Equipment records for Johnson Machine Co. for the year follow. Johnson Machine uses the straight-line method of depreciation. In the case of assets acquired by the fifteenth day of the month, depreciation should be computed for the entire month. In the case of assets acquired after the fifteenth day of the month, no depreciatio should be considered for the month in which the asset was acquired. Asset Truck #1 Truck #2 Tractor #1 Tractor #2 Forklift Required: Purchase Price $20,060 26,600 16,770 14,040 40,830 Useful Life 8 years 8 5 6 10 Salvage Value $3,820 4,200 2,970 2,160 3,930 Date Purchased January 1 April 10 May 1 June 18 September 1 1. Calculate the depreciation expense for Johnson Machine as of December 31, 20-- S

Equpment records for Johnson Machune Co. for the year follow. Johnson Machine uses the straighe-fine method of depreciation, In the case of assets acquired by the should be considered for the moenth in which the esset was acquired. Required: 1. Cacantate the deprecation expense for Johnson Machine as of December 31, 20