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On August 1, Plattsburgh Warehouse paid cash of $13,680 for computers that are expected to remain useful for four years. At the end of 4
On August 1, Plattsburgh Warehouse paid cash of $13,680 for computers that are expected to remain useful for four years. At the end of 4 years, the value of the computers is expected to be zero. A. Calculate the amount of depreciation for the month of August using the straight-line depreciation method. Yearly Depreciation =( Cost - Residual Value )/( Time ) Yearly Depreciation = = per year One-Months Depreciation =( Yearly Depreciation )/(12) One-Months Depreciation =/12= per month. B. Record the adjusting entry for depreciation on August 31. C. Post the purchase of August 1 and the depreciation on August 1 to T accounts for the following accounts: Computer Equipment, Accumulated Depreciation-Computer Equipment, and Depreciation ExpenseComputer Equipment. Show their balances at August 31. Show their balances at August 31. Accumulated Depreciation-Computer Equipment Depreciation Expense-Computer Equipment D. What is the computer equipment's book value on August 31 ? Cost LESS Accumulated Depreciation =
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