Question Description:

At the end of September Troy, the owner, took a complete inventory of his supplies and found the following: 3 Dozen 1/4 inch screws at a cost of $5.00 per dozen 6 Dozen 1/2 inch screws at a cost of $10.00 per dozen 5 Cartons of computer inventory paper at a cost of $8 a carton 7 feet of coaxial cable at a cost of $11.00 per foot After speaking to his accountant, Troy found that a reasonable deprecation amount for each of his long term assets is as follows: Computer Purchased July 5, 201x - Depreciation $35 per month Office equipment purchased July 17, 201x - Depreciation $25 per month Computer workstations purchases sept 17 201x - Deprecation $35 per month Troy uses the straight-line method of amortization and declares no salvage value for any of the assets. If any long-term asset is purchased in the first 15 days of the month, he will charge amortization for the full month. If an asset is purchased on the 16th of the month, or later, he will not charge amortization in the month it was purchased. August and Septembers rent has now expired.

MyLabAccounting e) L01,2,3 KEEPING IT REAL SUAREZ COMPUTER CENTER At the end of September, Troy, the owner, took a complete inventory of his supplies and found the following: 3 dozen 4-inch screws at a cost of $5.00 a dozen 6 dozen -inch screws at a cost of $10.00 a dozen 5 cartons of computer inventory paper at a cost of $8 a carton 7 feet of coaxial cable at a cost of $11.00 per foot After speaking to his accountant, Troy found that a reasonable depreciation amount for each of his long-term assers is as follows: Computer purchased July 5, 2018 Office equipment purchased July 17, 201X Computer workstations purchased Sept. 17, 201X Depreciation $35 a month Depreciation $25 a month Depreciation S35 a month Troy uses the straight-line method of depreciation and declares no salvage value for any of the assets. If any long-term asser is purchased in the first 15 days of the month, he will charge depreciation for the full month. If an asset is purchased on the 16th of the month, or later, he will not charge depreciation in the month it was purchased. August and September's rent has now expired. Assignment Use your trial balance from the completed problem in Chapter 3 and the adjusting infor- mation given here to complete the worksheet for the 3 months ended September 30, 201X. From the worksheets, prepare the financial statements