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and Journalizing Depreciation Calculate the depreciation expense for Johnson Machine as of December 31, 20 Prepare the entry for depreciation expense using a general journal. If an amount box does not require an leave it blank, records for Johnson Machine Co. for the year follow. Johnson Machine uses the straight-line method of In the case of assets acquired by the fifteenth day of the month, depreciation should be computed the entire month. In the case of assets acquired after the fifteenth day of the month, no depreciation should for the month in which the asset was acquired. Salvage Purchase Price Date Purchased Asset #1 #2 Useful Life Value 8 years $4,130 January 1 $21,650 25,480 17,320 14,100 40,660 3,880 April 10 2,920 May1 2,160 June 18 #1 #2 10 4,060 September 1 .Calculate the depreciation expense for Johnson Machine as of December 31, 20- 13, e dbac Check My Wor Cost-Salvage Value Depreciable Cost Depreciable Cost /Years of Life Depreciation Expense Be sure to adjust for the number of months used during the year. General Journal 2. Prepare the entry for depreciation expense using a general journal. If an amount box does not require an entry, leave it blank. Page: 1 DOC. POST DATE ACCOUNT TITLE CREDIT O. REF DEBIT 1 20 Dec. 31 13,42X 13,42 2 Feedback