Part Five Instructions Before preparing the Financial Statements make sure all the assignments have been corrected in your spreadsheets. Prepare the Financial Statements listed below. a. Adjusted Trial Balance b. Income Statement c. Statement of Retained Earnings d. Balance sheet Once you finish the Financial Statements follow the instructions below: Step 1: Take the corrected balances in each account and prepare the Financial Statements listed above. Step 2: Use the Excel spreadsheet to answer the questions in Blackboard. Step 3: Once you complete entering information print out the spreadsheet and turn in the assignment Bank Statement Western Bank Page 1 PO Box 12345 El Paso, Texas 12345-2345 Teddy's Bears & Balloons 123 Main Avenue El Paso, Texas 79945 WESTERN BANK STATEMENT Teddy's Bears & Balloons Balance, beginning Deposits and other credits Checks and other debits Balance on statement date 09/01/2021 September September 09/30/2021 $0 $43,403 $24,638 $18,765 Deposits Added 9/2/2021 Deposit 1 $20,000 9/5/2021 Deposit 2 $5,000 9/20/2021 Deposit 3 $6,495 9/23/2021 Deposit 4 $4,330 9/28/2021 Deposit 5 $7,578 Wells Fargo Bank Statement - Checks Paid and other Debits 1001 $2,800 1007 $300 1002 $600 1008 $300 1003 $6,000 1009 $882 1004 $360 1010 $11,466 1005 $500 DM $30 Check Printing Fee 1006 $800 1011 $400 $200 NSF Check *Any errors should be assumed to be made by the bank. 15 Page in the corresponding week. Step 3: Once you complete entering all information into Blackboard, print out the spreadsheet and turn it in. Transactions Date Deposit No. Check No. Description 1. 9/02/21 Ted Edwards met with his lawyer and CPA for advice on starting the business. They decided that Mr. Edwards would organize the business as a corporation. The lawyer told Mr. Edwards to register the company name, Teddy's Bears & Balloons, with the County of El Paso. In addition, Mr. Edwards will get an employer identification number (EIN) from the Internal Revenue Service and get a sales tax permit from the Comptroller of Public Accounts. The lawyer agreed to prepare the Articles of Incorporation to be filed with the Secretary of State of Texas. The CPA has agreed to help Mr. Edwards set up his accounting system. Mr. Edwards opened a business checking account at Wells Fargo Bank by depositing $20,000. The corporation issued him a stock certificate for 20,000 shares of common stock at $1 par value. Mr. Edwards signed a one-year rental agreement with RIA Realtors for store space. He was required to pay $2,800 for rent for the months of September 1, 2021 - December 31, 2021 Arranged for a general business liability insurance policy and paid 2. 9/02/21 Deposit #1 3. 9/03/21 Ck #1001 4. 9/03/21 Ck #1002 5 . 9/03/21 6. 9/05/21 Deposit #2 7. 9/05/21 Ck #1003 8. 9/06/21 Ck #1004 Purchased a new computer system that cost $4,800 from Office Mart for use in the business. Mr. Edwards signed a 6 month note, 12% installment note payable for the cost of the system. The computer system has an estimated useful life of 5 years and the residual (salvage) value is $600. This will be recorded as Computer Equipment, and depreciated using the Straight-Line Depreciation method accordingly. Only record the transaction at this time. Depreciation will be recorded as an adjusting entry. Signed a note payable to borrow $5,000 from Western Bank. Interest is 6% annually and the note is to be repaid with interest in six months. Only record the receipt of the note. Interest will be recorded as an adjusting journal entry. Purchased display shelves for $6,000 from Office Furniture Liquidators. The estimated service life of these assets is 10 years. The residual (salvage) value is $0. These items will be recorded as Office Fixtures and depreciated accordingly using the Straight-Line of Depreciation. Only record the purchase of the shelves. Depreciation will be an adjusting entry. Arranged for Eastside Movers to make the delivery and installation of the computer system and the shelves and paid the invoice of $360. Half of this charge should be added to the cost of the computer equipment purchased and depreciated on the same basis as the computer equipment and the other half to the display shelves. Paid $500 of office supplies using cash from Ace Office Supplies. Purchased $6,200 of merchandise inventory-bears from Betty's Bears on account. The invoice number was SG3040. The vendor extended credit terms of 2/15, n/30. Purchased $900 of merchandise inventory-balloons from Brenda's Balloons on account. The vendor extended credit terms which are 2/15 n/30. (The invoice number was GG2001.) Mr. Edwards received and paid the $800 charge from his lawyer for the work to set up the business. Teddy's Bears and Balloons is now open for business. Sales will be both retail and wholesale. Retail customers will purchase online and at the shop and will be charged an 8.25% sales tax. Mr. Edwards will allow major customers to charge their purchases on account. Ck #1005 9. 9/06/21 10. 9/08/21 11. 9/08/21 12. 9/13/21 Ck #1006 13. 9/14/21 14. 9/14/21 15. 9/14/21 16. 9/14/21 17, 9/16/21 Deposit #3 18. 9/20/21 Ck #1007 19. 9/22/21 20. 9/23/21 Deposit #4 21. 9/23/21 Ck #1008 Sold merchandise that cost $2,000 to Pedro's Party Planners on account for $4,000. The cost of the bears $1,700, the cost of the balloons $300. $330 of sales tax was recorded. (Invoice number A1021) Purchased $300 of ribbon and other supplies from Floral Fantasy on account. Purchased additional bears from Betty's Bears on account, invoice number SG0610, for $5,500. Credit terms were 2/15, n/30. Recorded cash sales for the first five days of operation Sales totaled $6,000, sales tax collected $495. A total of $6,495 in cash was deposited in the bank. The cost of the merchandise sold was $4,200 (bears were $3,900; balloons $300). Received and paid the $300 invoice number A1021 for ribbon and supplies purchased on 9/14/2021. Mr. Edwards participated in a weekend arts/crafts fair at the mall. He felt that this was a good way to publicize his new business. Received payment in full from Pedro's Party Planners. The payment was deposited in the bank. The mall charged $300 for the use of their space for the fair. Mr. Edwards considers this an advertising expense. Mr. Edward paid the bill. Paid invoice number GG2001 from Brenda's Balloons. Cash sales for the month totaled $7,000. Sales tax on the sale is $578. The cost of the merchandise sold was $4,200 (bears $4,000 and balloons $200). Paid the balance to Betty's Bears. There are two invoices. Paid $400 for fliers, posters and business cards. This is considered prepaid advertising Received but did not pay the utility bill for the month, $120. Paid the first monthly installment on the computer equipment. The payment amount is $848. Of this amount, $48 is for interest and $800 is for principal. Make the check payable to Office Mart. Recorded cash sales for the last week of the month. Sales of $3,400 were deposited. The cost of the merchandise sold was $1,200 for the bears, and balloons were $50. Sales tax collected is $280. Paid all sales tax owed for September to the Comptroller of Public Accounts Declared and paid a cash dividend of $200 to Ted Edwards. 22. 9/23/21 23. 9/23/21 Ck #1009 Deposit #5 24. 9/23/21 25. 9/23/21 Ck #1010 Ck #1011 26. 9/25/21 27. 9/30/21 Ck #1012 28. 9/30/21 Deposit #6 29. 9/30/21 Ck #1013 30. 9/30/21 Ck #1014 Chart of Accounts: use the account numbers listed below in the journal entries. Stockholders' Equity 39003 Common Stock 39005 Retained Earnings 39007 Dividends Current Assets 10000 Cash 11000 Accounts Receivable 12000 Inventory-Bears 12100 Inventory Balloons 13100 Office Supplies 13200 Ribbon Supplies 14000 Prepaid Rent 14100 Prepaid Insurance 14200 Prepaid Advertising Revenue 40000 Sales Long-Term Assets 15000 Computer Equipment 17000 Accumulated Depreciation -Computer Equipment 15100 Office Fixtures 17100 Accumulated Depreciation Office Fixtures Expenses 50000 60100 60150 60200 60300 60350 60400 60500 60550 60600 60650 Cost of Goods Sold Legal Expense Office Supplies Expense Ribbon Supplies Expense Insurance Expense Wages Expense Credit Card Expense Advertising Expense Utility Expense Rent Expense Depreciation Expense-Computer Equipment Depreciation Expense-Office Fixtures Interest Expense Bank Service Fee 60675 Current Liabilities 20000 Accounts Payable 21100 Note Payable - Wells Fargo Bank 21200 Note Payable - Office Mart 23100 Wages Payable 23200 Interest Payable 23300 Sales Tax Payable 23400 Utilities Payable 60700 60750 Long-Term Liabilities 27000 Mortgage Payable 27100 Notes Payable Answer 1 of 1 Done Ne Journal Date Particulars ne transactionality description of how the company will be firmed 1 02-09-2021 2 02-09-2021 Wells Fargon Share Capital 3 03-09-2021 Prepaid Real mouth Wells Fargo Bank 4 03-09-2021 Prepaid Insurance Wells Farpe Bank 5 03-09-2021 Computer Notes Payabi.1234 05-09-2021 Wells Fargo Bank Notes Payable 7 05-09-2021 Display Shelves Wells Fargo Bank is paid * 06-09-2021 Camu Display Shelves Wells Fargo Bank 9 06-09-2021 Office Supplies Wells Fargo Bank 10 08-09-2021 Ivetary Ben Accounts Payable-B B 11 08-09-2021 In Ball Accounts Payable- Balloon 12 13-09-2021 Registration and Filing Wells Fargo Bank 13 14-09-2021 nacio TACO 14-09-2021 As Receivable Kost of God Isaks Ben L Balloon Sales Tax 15 14.09.2021 Ribbon Supplies Acts Payable Floral Answer 1 of 1 Done 16 14-09-2021 InventoryBean AccoPayable-Betty B 17 16-09-2021 Wells Fargo Bank Cost of Goods SM Sales Inventory Inventory lane 18 20.09.2021 Account Payable Floral Fantasy Wells Fara 19 22-09-2021 ne transactions only decision is made 20 21-09-2021 Wells Fargo Bank Account Receive 21 23-09-2021 Prepaid Advertising Wells Fargo Bank 22 23-09-2021 Accounts Payable-Bret Bellom Discount Received Wells Fargo Banko Received 2 cash disk paid within 15 days 23-09-2021 Wells Fargo Bank Cost of Goods Sold Sales Inventory.Beans Inventory Mato Sales Tax ming and was de in the bank 24 23-09-2021 Accounts Payable-Brend Ballon 6200-5500 Disco Received 11700000 Wells Farge Buk(1700*198) Received and paid within 15 days 25 23-09-2021 Prepaid Mavering Wells Fargo Bank 26 25-09-2021 Luty Expense Utilities Payable Answer 1 of 1 Done 27 16-09-2021 Nets Payable 12% Interest Expense Wells Fara Bank 25 30-09-2021 Wells Fargo Bank Cost of Goods Sold Sales Inventory Ivy Mall Sales Tax ning card was depe in the bank 29 30-09-2021 Sales Tax Wells Fargo Bank330095578-28 30 26-04-20121 Dividendid Wells Fargo Bank Adjusting Entries land 2 16.09.2021 Sur Espen fice Suppl/S0036 Ribbon Supplies 300-75 3 Advertising Expenses Picpaid Advertising/700 4 Wages Expense Wapes Payable Destion Expense Computer Acumulated Deprecia Computer wote 6 Deprecatione Fixtures Accumulated Dari Orice Fros 7 Insurance Espoo Prepaid Insurance Rent Exports/2004) Prepaid Rowl interest Expense S0006 26265) Interest Payable the low was taken on se hence 26 days have pasal Done Answer 1 of 1 LAVIONG Wells Fargo Bank -- Adjusting Entries Land 230-09-2021 Supplies Apense Office Supplies 500.00 Rible Supplies 300-75 1 Advertising Experie Prepaid Advertising/700 4 Wages Expone Wapes Payable Depreciation Expense Computer med Date Computer 6 Depreciation Expenses Fixtures Accumulated Deprecia Office Fitnes 7 Insurance Expo Paspaids Rent Expense 2004 Prepaid Rent interest Expense(5000 26.365) Irrest Payable the foon was taken ont hence 26 days have only netractical rended Notes and assumptions: straight line method deprecation calculation (Cost Salvage Value Useful Years Cost of Computer = 4800+180=4980 Salvage Value = 600 Useful Lite 5 Depreciation year (4980-60015876 Depreciation month= 878/12 = 73 Cost of Office Fixture = 6000+180-6180 Salvage Values Useful Life 10 Depreciation year (6180-0030 618 Depreciation |month= 618/12 51.5 For any further queries, feel free to ask comment. Thank you! Part Five Instructions Before preparing the Financial Statements make sure all the assignments have been corrected in your spreadsheets. Prepare the Financial Statements listed below. a. Adjusted Trial Balance b. Income Statement c. Statement of Retained Earnings d. Balance sheet Once you finish the Financial Statements follow the instructions below: Step 1: Take the corrected balances in each account and prepare the Financial Statements listed above. Step 2: Use the Excel spreadsheet to answer the questions in Blackboard. Step 3: Once you complete entering information print out the spreadsheet and turn in the assignment Bank Statement Western Bank Page 1 PO Box 12345 El Paso, Texas 12345-2345 Teddy's Bears & Balloons 123 Main Avenue El Paso, Texas 79945 WESTERN BANK STATEMENT Teddy's Bears & Balloons Balance, beginning Deposits and other credits Checks and other debits Balance on statement date 09/01/2021 September September 09/30/2021 $0 $43,403 $24,638 $18,765 Deposits Added 9/2/2021 Deposit 1 $20,000 9/5/2021 Deposit 2 $5,000 9/20/2021 Deposit 3 $6,495 9/23/2021 Deposit 4 $4,330 9/28/2021 Deposit 5 $7,578 Wells Fargo Bank Statement - Checks Paid and other Debits 1001 $2,800 1007 $300 1002 $600 1008 $300 1003 $6,000 1009 $882 1004 $360 1010 $11,466 1005 $500 DM $30 Check Printing Fee 1006 $800 1011 $400 $200 NSF Check *Any errors should be assumed to be made by the bank. 15 Page in the corresponding week. Step 3: Once you complete entering all information into Blackboard, print out the spreadsheet and turn it in. Transactions Date Deposit No. Check No. Description 1. 9/02/21 Ted Edwards met with his lawyer and CPA for advice on starting the business. They decided that Mr. Edwards would organize the business as a corporation. The lawyer told Mr. Edwards to register the company name, Teddy's Bears & Balloons, with the County of El Paso. In addition, Mr. Edwards will get an employer identification number (EIN) from the Internal Revenue Service and get a sales tax permit from the Comptroller of Public Accounts. The lawyer agreed to prepare the Articles of Incorporation to be filed with the Secretary of State of Texas. The CPA has agreed to help Mr. Edwards set up his accounting system. Mr. Edwards opened a business checking account at Wells Fargo Bank by depositing $20,000. The corporation issued him a stock certificate for 20,000 shares of common stock at $1 par value. Mr. Edwards signed a one-year rental agreement with RIA Realtors for store space. He was required to pay $2,800 for rent for the months of September 1, 2021 - December 31, 2021 Arranged for a general business liability insurance policy and paid 2. 9/02/21 Deposit #1 3. 9/03/21 Ck #1001 4. 9/03/21 Ck #1002 5 . 9/03/21 6. 9/05/21 Deposit #2 7. 9/05/21 Ck #1003 8. 9/06/21 Ck #1004 Purchased a new computer system that cost $4,800 from Office Mart for use in the business. Mr. Edwards signed a 6 month note, 12% installment note payable for the cost of the system. The computer system has an estimated useful life of 5 years and the residual (salvage) value is $600. This will be recorded as Computer Equipment, and depreciated using the Straight-Line Depreciation method accordingly. Only record the transaction at this time. Depreciation will be recorded as an adjusting entry. Signed a note payable to borrow $5,000 from Western Bank. Interest is 6% annually and the note is to be repaid with interest in six months. Only record the receipt of the note. Interest will be recorded as an adjusting journal entry. Purchased display shelves for $6,000 from Office Furniture Liquidators. The estimated service life of these assets is 10 years. The residual (salvage) value is $0. These items will be recorded as Office Fixtures and depreciated accordingly using the Straight-Line of Depreciation. Only record the purchase of the shelves. Depreciation will be an adjusting entry. Arranged for Eastside Movers to make the delivery and installation of the computer system and the shelves and paid the invoice of $360. Half of this charge should be added to the cost of the computer equipment purchased and depreciated on the same basis as the computer equipment and the other half to the display shelves. Paid $500 of office supplies using cash from Ace Office Supplies. Purchased $6,200 of merchandise inventory-bears from Betty's Bears on account. The invoice number was SG3040. The vendor extended credit terms of 2/15, n/30. Purchased $900 of merchandise inventory-balloons from Brenda's Balloons on account. The vendor extended credit terms which are 2/15 n/30. (The invoice number was GG2001.) Mr. Edwards received and paid the $800 charge from his lawyer for the work to set up the business. Teddy's Bears and Balloons is now open for business. Sales will be both retail and wholesale. Retail customers will purchase online and at the shop and will be charged an 8.25% sales tax. Mr. Edwards will allow major customers to charge their purchases on account. Ck #1005 9. 9/06/21 10. 9/08/21 11. 9/08/21 12. 9/13/21 Ck #1006 13. 9/14/21 14. 9/14/21 15. 9/14/21 16. 9/14/21 17, 9/16/21 Deposit #3 18. 9/20/21 Ck #1007 19. 9/22/21 20. 9/23/21 Deposit #4 21. 9/23/21 Ck #1008 Sold merchandise that cost $2,000 to Pedro's Party Planners on account for $4,000. The cost of the bears $1,700, the cost of the balloons $300. $330 of sales tax was recorded. (Invoice number A1021) Purchased $300 of ribbon and other supplies from Floral Fantasy on account. Purchased additional bears from Betty's Bears on account, invoice number SG0610, for $5,500. Credit terms were 2/15, n/30. Recorded cash sales for the first five days of operation Sales totaled $6,000, sales tax collected $495. A total of $6,495 in cash was deposited in the bank. The cost of the merchandise sold was $4,200 (bears were $3,900; balloons $300). Received and paid the $300 invoice number A1021 for ribbon and supplies purchased on 9/14/2021. Mr. Edwards participated in a weekend arts/crafts fair at the mall. He felt that this was a good way to publicize his new business. Received payment in full from Pedro's Party Planners. The payment was deposited in the bank. The mall charged $300 for the use of their space for the fair. Mr. Edwards considers this an advertising expense. Mr. Edward paid the bill. Paid invoice number GG2001 from Brenda's Balloons. Cash sales for the month totaled $7,000. Sales tax on the sale is $578. The cost of the merchandise sold was $4,200 (bears $4,000 and balloons $200). Paid the balance to Betty's Bears. There are two invoices. Paid $400 for fliers, posters and business cards. This is considered prepaid advertising Received but did not pay the utility bill for the month, $120. Paid the first monthly installment on the computer equipment. The payment amount is $848. Of this amount, $48 is for interest and $800 is for principal. Make the check payable to Office Mart. Recorded cash sales for the last week of the month. Sales of $3,400 were deposited. The cost of the merchandise sold was $1,200 for the bears, and balloons were $50. Sales tax collected is $280. Paid all sales tax owed for September to the Comptroller of Public Accounts Declared and paid a cash dividend of $200 to Ted Edwards. 22. 9/23/21 23. 9/23/21 Ck #1009 Deposit #5 24. 9/23/21 25. 9/23/21 Ck #1010 Ck #1011 26. 9/25/21 27. 9/30/21 Ck #1012 28. 9/30/21 Deposit #6 29. 9/30/21 Ck #1013 30. 9/30/21 Ck #1014 Chart of Accounts: use the account numbers listed below in the journal entries. Stockholders' Equity 39003 Common Stock 39005 Retained Earnings 39007 Dividends Current Assets 10000 Cash 11000 Accounts Receivable 12000 Inventory-Bears 12100 Inventory Balloons 13100 Office Supplies 13200 Ribbon Supplies 14000 Prepaid Rent 14100 Prepaid Insurance 14200 Prepaid Advertising Revenue 40000 Sales Long-Term Assets 15000 Computer Equipment 17000 Accumulated Depreciation -Computer Equipment 15100 Office Fixtures 17100 Accumulated Depreciation Office Fixtures Expenses 50000 60100 60150 60200 60300 60350 60400 60500 60550 60600 60650 Cost of Goods Sold Legal Expense Office Supplies Expense Ribbon Supplies Expense Insurance Expense Wages Expense Credit Card Expense Advertising Expense Utility Expense Rent Expense Depreciation Expense-Computer Equipment Depreciation Expense-Office Fixtures Interest Expense Bank Service Fee 60675 Current Liabilities 20000 Accounts Payable 21100 Note Payable - Wells Fargo Bank 21200 Note Payable - Office Mart 23100 Wages Payable 23200 Interest Payable 23300 Sales Tax Payable 23400 Utilities Payable 60700 60750 Long-Term Liabilities 27000 Mortgage Payable 27100 Notes Payable Answer 1 of 1 Done Ne Journal Date Particulars ne transactionality description of how the company will be firmed 1 02-09-2021 2 02-09-2021 Wells Fargon Share Capital 3 03-09-2021 Prepaid Real mouth Wells Fargo Bank 4 03-09-2021 Prepaid Insurance Wells Farpe Bank 5 03-09-2021 Computer Notes Payabi.1234 05-09-2021 Wells Fargo Bank Notes Payable 7 05-09-2021 Display Shelves Wells Fargo Bank is paid * 06-09-2021 Camu Display Shelves Wells Fargo Bank 9 06-09-2021 Office Supplies Wells Fargo Bank 10 08-09-2021 Ivetary Ben Accounts Payable-B B 11 08-09-2021 In Ball Accounts Payable- Balloon 12 13-09-2021 Registration and Filing Wells Fargo Bank 13 14-09-2021 nacio TACO 14-09-2021 As Receivable Kost of God Isaks Ben L Balloon Sales Tax 15 14.09.2021 Ribbon Supplies Acts Payable Floral Answer 1 of 1 Done 16 14-09-2021 InventoryBean AccoPayable-Betty B 17 16-09-2021 Wells Fargo Bank Cost of Goods SM Sales Inventory Inventory lane 18 20.09.2021 Account Payable Floral Fantasy Wells Fara 19 22-09-2021 ne transactions only decision is made 20 21-09-2021 Wells Fargo Bank Account Receive 21 23-09-2021 Prepaid Advertising Wells Fargo Bank 22 23-09-2021 Accounts Payable-Bret Bellom Discount Received Wells Fargo Banko Received 2 cash disk paid within 15 days 23-09-2021 Wells Fargo Bank Cost of Goods Sold Sales Inventory.Beans Inventory Mato Sales Tax ming and was de in the bank 24 23-09-2021 Accounts Payable-Brend Ballon 6200-5500 Disco Received 11700000 Wells Farge Buk(1700*198) Received and paid within 15 days 25 23-09-2021 Prepaid Mavering Wells Fargo Bank 26 25-09-2021 Luty Expense Utilities Payable Answer 1 of 1 Done 27 16-09-2021 Nets Payable 12% Interest Expense Wells Fara Bank 25 30-09-2021 Wells Fargo Bank Cost of Goods Sold Sales Inventory Ivy Mall Sales Tax ning card was depe in the bank 29 30-09-2021 Sales Tax Wells Fargo Bank330095578-28 30 26-04-20121 Dividendid Wells Fargo Bank Adjusting Entries land 2 16.09.2021 Sur Espen fice Suppl/S0036 Ribbon Supplies 300-75 3 Advertising Expenses Picpaid Advertising/700 4 Wages Expense Wapes Payable Destion Expense Computer Acumulated Deprecia Computer wote 6 Deprecatione Fixtures Accumulated Dari Orice Fros 7 Insurance Espoo Prepaid Insurance Rent Exports/2004) Prepaid Rowl interest Expense S0006 26265) Interest Payable the low was taken on se hence 26 days have pasal Done Answer 1 of 1 LAVIONG Wells Fargo Bank -- Adjusting Entries Land 230-09-2021 Supplies Apense Office Supplies 500.00 Rible Supplies 300-75 1 Advertising Experie Prepaid Advertising/700 4 Wages Expone Wapes Payable Depreciation Expense Computer med Date Computer 6 Depreciation Expenses Fixtures Accumulated Deprecia Office Fitnes 7 Insurance Expo Paspaids Rent Expense 2004 Prepaid Rent interest Expense(5000 26.365) Irrest Payable the foon was taken ont hence 26 days have only netractical rended Notes and assumptions: straight line method deprecation calculation (Cost Salvage Value Useful Years Cost of Computer = 4800+180=4980 Salvage Value = 600 Useful Lite 5 Depreciation year (4980-60015876 Depreciation month= 878/12 = 73 Cost of Office Fixture = 6000+180-6180 Salvage Values Useful Life 10 Depreciation year (6180-0030 618 Depreciation |month= 618/12 51.5 For any further queries, feel free to ask comment. Thank you
