Hello!

May someone let me know if I was able to calculate this right please? I got 7666.66 as my answer and was going to put it in the "Fixed Assets" category under the debit column and the "Accumulated Depreciation" column under credit (both for 7666.66).

**This will be put in the adjusted trial balance

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.

I used the following equation:

Straight Line Depreciation Formula:

= (cost of the asset - salvage value) / (useful life of the asset)

Mainframe Computer:

= (20000 - 0) / (3)

= 6666.66

Personal Computer:

= (3000 - 0) / (3)

= 1000

Total for Both:

= 6666.66 + 1000

= 7666.66

Please let me know if you need more information for this section!

Thank you!