Selected ledger account balances for Business Solutions follow. Office equipment Accumulated depreciation-Office equipment Computer equipment Accumulated...

 

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Selected ledger account balances for Business Solutions follow. Office equipment Accumulated depreciation-Office equipment Computer equipment Accumulated depreciation-Computer equipment Total revenue Total assets For Three Months Ended December 31, 2021 $ 7,100 355 30,000 1,875 31,334 82,960 For Three Months. Ended March 31, 2022 $ 7,100 710 30,000 3,750 45,000 120,868 Required: 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. Selected ledger account balances for Business Solutions follow. Office equipment Accumulated depreciation-Office equipment Computer equipment Accumulated depreciation-Computer equipment Total revenue Total assets For Three Months Ended December 31, 2021 $ 7,100 355 30,000 1,875 31,334 82,960 For Three Months. Ended March 31, 2022 $ 7,100 710 30,000 3,750 45,000 120,868 Required: 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.

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1 To calculate Depreciation expense for Office equipment and Computer equipment using the straightli... View the full answer