Chapter $8$

Exploration $8\mathrm{.}3-$ Partial Periods $(03)$

Goal: Learn to calculate depreciation for partial periods.

Instructions: You are given information about a plant and equipment asset. You must calculate depreciation on that asset for a partial period using one of the methods described in this section.

Do not include the $ sign in your answers.

Your answers must be correct to exactly $2$ decimal places.

Do not include the, indicating thousands in your answers.

On January $2,2025,$ Benson Inc. purchased furniture at a cost of $$21,600.$ Benson Inc. estimated that the furniture would not be useful after $3$ years of use. They estimated that at this point the furniture would be worthless. Benson Inc.$\text{'}$s year$-$end is December $31.$ Calculate the following using the straight$-$line method.

Calculate depreciation for the year $2025$ to the nearest whole month.

Calculate depreciation for the year $2025$ using the half$-$year rule.