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Systems Understanding Aid 9th education, accounting: How is the depreciation expense of $35,023.64 calculated? The ending balance for Fixed assets on 12/31/2016 is $320,665. Fixed
Systems Understanding Aid 9th education, accounting: How is the depreciation expense of $35,023.64 calculated?
The ending balance for Fixed assets on 12/31/2016 is $320,665. Fixed assets net of accumulated depreciation for 2016 is $239,105.50. Then, on December 29, 2017 the company buys 10, 11-inch tablets for a total of $3699.40. The tablets have a useful life of 5 years with no salvage value. The depreciation method is straight line, accumulated depreciation is $81,559.50
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