Use the formula to calculate

2018

depreciation for each asset, and lastly, calculate the total cost and depreciation of all assets purchased in

2018.

(Complete all answer boxes. Round depreciation per unit to the nearest cent and round final depreciation amounts to the nearest whole dollar. For any asset not depreciated, select "No depreciation taken on this asset" in the Formula column and enter a "0" in the Depreciation column.)

Date in service		Asset	Cost	Formula needed for 2018 depreciation
March 3		Equipment	$3,600	Cost x (1 / Useful life x 2) x (10 months / 12 months)
March 18		Truck	$35,800	[(Cost - Residual value) / Life in miles] x Miles driven
April 2		Land	$16,000	No depreciation taken on this asset
April 22		Furniture	$2,100	(Cost - Residual value) x (1 / Useful life) x (8 months / 12 months)
June 10		Furniture	$1,600	(Cost - Residual value) x (1 / Useful life) x (7 months / 12 months)
June 25		Equipment	$3,660	(Cost - Residual value) x (1 / Useful life) x (6 months / 12 months)
August 1		Building	$135,000	(Cost - Residual value) x (1 / Useful life) x (5 months / 12 months)
Depreciation

On March 3, Fitness Equipment Doctor, Inc., purchased equipment for $ 3 comma 600 cash. The equipment has an estimated useful life of four years and no salvage value. Fitness Equipment Doctor uses double-declining balance depreciation for the equipment.

On March 18, Fitness Equipment Doctor, Inc., purchased a $ 35 comma 800 truck financed by a note payable bearing 8 percent annual interest. The truck has an estimated useful life of 300 comma 000 miles and a residual value of $ 5 comma 800. The truck was driven 56 comma 000 miles in 2018 and is depreciated using the units of production method.

On April 2, Fitness Equipment Doctor, Inc., paid $ 16 comma 000 for land.

On April 22, $ 2 comma 100 of furniture was purchased on account. The furniture has a four-year life and a residual value of $ 300. Furniture is depreciated using straight-line depreciation.

On June 10, $ 1 comma 600 of furniture was purchased. The furniture has a five-year life and a residual value of $ 100 and is depreciated using straight-line depreciation.

On June 25, $ 3 comma 660 of equipment was purchased. The equipment has a four-year life and a $ 300 residual value, and is depreciated using the straight-line method.

On August 1, Fitness Equipment Doctor, Inc., purchased a building for $ 135 comma 000 financed by a mortgage bearing 5 percent annual interest. The building has an estimated salvage value of $ 30 comma 000 and is being depreciated over 25 years using the straight-line method.