Question
The fixed assets have estimated useful lives as follows: Building -31.5 years computer equipment-5.0 years Office equipment-7.0 years Use straight -line method of deprecation. Management
The fixed assets have estimated useful lives as follows:
Building -31.5 years
computer equipment-5.0 years
Office equipment-7.0 years
Use straight -line method of deprecation. Management has decided that assets purchased during a month are treated as if purchased on the first day of the month. The building's scrap value is $8,000. The office equipment has a scrap value of $350. The computer equipment has no scrap value. Calculate the depreciation for one month. Total cost for the building is $20,000. Total cost for office equipment is $2,004. Total cost of Computer equipment is $234,320. I need help on how to figure this problem out for my general journal I have the right transactions just not the right amount of money.
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