Question
Selected ledger account balances for Success Systems follow. For Three Months Ended December 31, 2013 For Three Months Ended March 31, 2014 Office equipment $
Selected ledger account balances for Success Systems follow. |
For Three Months Ended December 31, 2013 | For Three Months Ended March 31, 2014 | ||||||
Office equipment | $ | 7,800 | $ | 7,800 | |||
Accumulated depreciationOffice equipment | 390 | 780 | |||||
Computer equipment | 26,000 | 26,000 | |||||
Accumulated depreciationComputer equipment | 1,625 | 3,250 | |||||
Total revenue | 31,534 | 45,500 | |||||
Total assets | 83,860 | 122,068 | |||||
Required |
1. | Assume that Success Systems does not acquire additional office equipment or computer equipment in 2014. Compute amounts for the year ended December 31, 2014, for Depreciation ExpenseOffice Equipment and for Depreciation ExpenseComputer Equipment (assume use of the straight-line method).
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