On July 1, 200X, Beautiful Day Salon bought chairs for styling stations. The chairs cost a total of $1,900 and the owner estimates she will use them for ten years, and then sell them for scrap for $100 total. She will use the straight-line method of depreciation.

a. What is the expected useful life of the chairs?

b. What is the cost?

c. What is the salvage value?

d. What amount will be depreciated over the useful life?

e. How much is depreciated in the fi rst month (July 200X)?

f. What is the balance of the Accumulated Depreciation account after the July adjustment?

g. How much is depreciated in the sixth month (December 200X)?

h. What is the balance of the Accumulated Depreciation account after the December adjustment?

i. Journalize the December adjustment for depreciation.