1. Prepare the adjustment to record depreciation for the month at the bottom on your accounting equation spreadsheet. The depreciation period is as follows:

Buildings 20 years - Price of building = $60,000

Furniture and Fixtures 10 years - Price of Furniture = $2000

Equipment 10 years - Price of equipment = $20,000

Vehicles 7 years - Price of Vehicles = $15,000

Computers 3 years - Price of computers $7,000

There are no salvage values on any fixed assets. Remember: you are recording the depreciation for the MONTH.

I need help with figuring out depreciation expense for each month and how that affects the balance sheet ( Assets = Liabilities + Stockholders Equity | Rev - Exp = Net Income)