Office equipment Accumulated depreciation-Office equipment Computer equipment Accumulated depreciation-Computer equipment Total revenue Total assets Required: For...
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Office equipment Accumulated depreciation-Office equipment Computer equipment Accumulated depreciation-Computer equipment Total revenue Total assets Required: For Three Months For Three Months Ended December 31, 2021 $ 7,400 370 20,000 Ended March 31, 2022 $ 7,400 740 20,000 1,250 32,084 2,500 45,200 82,860 120,968 1. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2022. Compute amounts for the year ended December 31, 2022, for Depreciation expense-Office equipment and for Depreciation expense- Computer equipment (assume use of the straight-line method). 2. Given the assumptions in part 1, what is the book value of both the office equipment and the computer equipment as of December 31, 2022? 3. Compute the three-month total asset turnover for Business Solutions as of March 31, 2022. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2022. Compute amounts for the year ended December 31, 2022, for Depreciation expense-Office equipment and for Depreciation expense- Computer equipment (assume use of the straight-line method). Depreciation Expense Office equipment Computer equipment Required 1 Required 2 Required 3 Given the assumptions in part 1, what is the book value of both the office equipment and the computer equipment as of December 31, 2022? Office equipment Computer equipment Book Value Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3. Compute the three-month total asset turnover for Business Solutions as of March 31, 2022. Note: Round your answer to 2 decimal places. Total asset turnover times Office equipment Accumulated depreciation-Office equipment Computer equipment Accumulated depreciation-Computer equipment Total revenue Total assets Required: For Three Months For Three Months Ended December 31, 2021 $ 7,400 370 20,000 Ended March 31, 2022 $ 7,400 740 20,000 1,250 32,084 2,500 45,200 82,860 120,968 1. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2022. Compute amounts for the year ended December 31, 2022, for Depreciation expense-Office equipment and for Depreciation expense- Computer equipment (assume use of the straight-line method). 2. Given the assumptions in part 1, what is the book value of both the office equipment and the computer equipment as of December 31, 2022? 3. Compute the three-month total asset turnover for Business Solutions as of March 31, 2022. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2022. Compute amounts for the year ended December 31, 2022, for Depreciation expense-Office equipment and for Depreciation expense- Computer equipment (assume use of the straight-line method). Depreciation Expense Office equipment Computer equipment Required 1 Required 2 Required 3 Given the assumptions in part 1, what is the book value of both the office equipment and the computer equipment as of December 31, 2022? Office equipment Computer equipment Book Value Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3. Compute the three-month total asset turnover for Business Solutions as of March 31, 2022. Note: Round your answer to 2 decimal places. Total asset turnover times
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Related Book For
Fundamental Accounting Principles
ISBN: 978-1259536359
23rd edition
Authors: John Wild, Ken Shaw, Barbara Chiappett
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