office equipment Accumulated depreciation office equipment Computer equipment Accumulated depreciation-Computer equipment Total revenue Total assets Ended December 31, 2019 7,600 380 30,000 1,875 31,394 84,260 Ended March 31, 2020 $ 7,600 760 30,000 3,750 44,400 122,068 Required: 1. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2020. Compute amounts for the year ended December 31, 2020, for Depreciation expense-Office equipment and for Depreciation expense-Computer equipment (assume use of the straight-line method). 2. Given the assumptions in part 1, what is the book value of both the office equipment and the computer equipment as of December 31, 2020? 3. Compute the three-month total asset turnover for Business Solutions as of March 31, 2020. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2020. Compute amounts for the year ended December 31, 2020, for Depreciation expense-Office equipment and for Depreciation expense- Computer equipment (assume use of the straight-line method). Depreciation Expense Office equipment Computer equipment Office equipment Accumulated depreciation office equipment Computer equipment Accumulated depreciation-Computer equipment Total revenue Total assets $ 7.600 380 30,000 1,875 31,384 24,260 $ 7.600 760 30,000 3,750 44,400 122.068 Required: 1. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2020. Compute amounts for the year ended December 31, 2020, for Depreciation expense-Office equipment and for Depreciation expense-Computer equipment (assume use of the straight-line method). 2. Given the assumptions in part 1, what is the book value of both the office equipment and the computer equipment as of December 31, 2020? 3. Compute the three-month total asset turnover for Business Solutions as of March 31, 2020. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Given the assumptions in part 1, what is the book value of both the office equipment and the computer equipment as of December 31, 2020? Book Value Office equipment Computer equipment office equipment Accumulated depreciation-office equipment Computer equipment Accumulated depreciation-Computer equipment Total revenue Total assets $ 7.600 380 30,000 1.875 31,384 84,260 $ 7,600 1760 30,000 3.750 44,400 122,068 Required: 1. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2020. Compute amounts for the year ended December 31, 2020, for Depreciation expense-Office equipment and for Depreciation expense-Computer equipment (assume use of the straight-line method). 2. Given the assumptions in part 1. what is the book value of both the office equipment and the computer equipment as of December 31, 20202 3. Compute the three-month total asset turnover for Business Solutions as of March 31, 2020. Complete this question by entering your answers in the tabs below. Required: Required 2 Required 3 Compute the three month total asset turnover for Business Solutions as of March 31, 2020. (Round your answer to 2 decimal places.) Total sol turnover times
