Equipment with an estimated life of 10 years and no expected residual value was purchased on account

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Equipment with an estimated life of 10 years and no expected residual value was purchased on account for $60,000 on March 6, 2023. Assuming a year-end of December 31, calculate depreciation for 2023 and 2024 using the straight-line method:
1. To the nearest whole month
2. Using the half-year convention

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Fundamental Accounting Principles Volume 2

ISBN: 9781260881332

17th Canadian Edition

Authors: Kermit D. Larson, Heidi Dieckmann, John Harris

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