Question
Selected ledger account balances for Business Solutions follow. For Three Months Ended December 31, 2017 For Three Months Ended March 31, 2018 Office equipment $
Selected ledger account balances for Business Solutions follow.
For Three Months
Ended December 31, 2017 For Three Months Ended March 31, 2018
Office equipment $ 7,500 $ 7,500
Accumulated depreciationOffice equipment 375 750
Computer equipment 12,000 12,000 Accumulated depreciation
Computer equipment 750 1,500
Total revenue 31,534 44,300 Total assets 83,260 120,668
Required: 1. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2018. Compute amounts for the year ended December 31, 2018, for Depreciation expenseOffice equipment and for Depreciation expenseComputer equipment (assume use of the straight-line method).
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