Hello!

May someone double check my answer, please?

Here is the question:

"Two of the fixed assets have not been completely depreciated. These two items are a mainframe computer purchased for $20,000 in 2002 and a personal computer purchased in the current year on October 1, 2003 for $3,000. Computers are depreciated using the straight-line method over 3 years. The salvage value is 0"

This is how I answered the question:

Straight Line Depreciation Formula:

= (Current value of Asset - Salvage Value) / (Useful years)

Mainframe Computer:

= (20000 - 0) / (3)

= 6666.66

Personal Computer:

= (3000 - 0) / (3)

= 1000

Total for Both:

= 6666.66 + 1000

= 7666.66

My answer to Question: $7,666.66

**This is for the Adjusted Trial Balance, therefore, I would also be debiting "$7,666.66" under the "Fixed Assets" category and crediting "Accumulated Depreciation" for "$7,666.66".

Please let me know if this is correct. If not, please let me know how to correct it please!

Thank you for your time!