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Selected ledger account balances for Business Solutions follow For Three Months Ended December 31, 2016 For Three Months Ended March 31, 2017 Office equipment Accumulated
Selected ledger account balances for Business Solutions follow For Three Months Ended December 31, 2016 For Three Months Ended March 31, 2017 Office equipment Accumulated depreciation-Office equipment Computer equipment Accumulated depreciation-Computer equipment Total revenue Total assets $ 8,300 415 10,000 625 31,984 83,060 $ 8,300 830 10,000 1,250 45,700 120,568 Required 1. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2017. Compute amounts for the year ended December 31, 2017, for Depreciation expense-Office equipment and for Depreciation expense-Computer equipment (assume use of the straight-line method) epreciation Expense Office equipment Computer equipment 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, 2017? Book Value Office equipment Computer equipment 3. Compute the three-month total asset turnover for Business Solutions as of March 31, 2017. (Round your answer to 2 decimal places.) Total asset turnover times
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