Question: I need help with these two questions!! On April 1, 2018, London Fluid Power purchased equipment for $116,000. The equipment is expected to last 5
I need help with these two questions!!
- On April 1, 2018, London Fluid Power purchased equipment for $116,000. The equipment is expected to last 5 years and will have no residual value. London Fluid Power has a December 31 year end. In the year of purchase, the company calculated depreciation for each month the asset was owned.
I need the Original cost of equipment, depreciation expense, accumulated depreciation and net book value for the years 2018,2019,2020,2021,2022.
- On July 1, 2018, Rite-Path Consulting purchased new computers for $16,000. The computers are expected to last 3 years and will have an estimated residual value of $800. Rite-Path Consulting has a December 31 year end.
I need the Original cost of equipment, depreciation expense, accumulated depreciation and net book value for the years 2018,2019,2020,2021,2022.
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