This problem continues the Davis Consulting situation from Problem P9-41 of Chapter 9. Assume Davis Consulting had purchased a computer, $1800, and office furniture, $4200, on Dec 3 and 4, 2014, respectively, and that they were expected to last five years. Assume that both assets have a residual value of $0. Requirements: 1. Calculate the amount of depreciation expense for each asset for the year ended December 31, 2014, assuming the computer is depreciated using the straight-lines method and the office furniture is depreciated using the double-declining balance method. 2. Record the entry for the ones month?s depreciation

This problem continues the Davis Consulting situation from Problem P9-41 of Chapter 9. Assume Davis Consulting had purchased a computer, $1800, and office furniture, $4200, on Dec 3 and 4, 2014, respectively, and that they were expected to last five years. Assume that both assets have a residual value of $0. Requirements: 1. Calculate the amount of depreciation expense for each asset for the year ended December 31, 2014, assuming the computer is depreciated using the straight-lines method and the office furniture is depreciated using the double-declining balance method. 2. Record the entry for the ones month's depreciation