A computer is purchased for $1,521.55 on June 7, 2014 and a desk is purchased for $1,444.44 on December 31. 2014. Depreciation entries are recorded at the end of each month. What will be general journal adjusting entry on December 31, 2014 for the depreciation of these fixed assets, if tax basis 20% MACRS is used?

A computer is purchased for $1,521.55 on June 7, 2014 and a desk is purchased for $1,444.44 on December 31. 2014. Depreciation entries are recorded at the end of each month. What will be general journal adjusting entry on December 31, 2014 for the depreciation of these fixed assets, if tax basis 20% MACRS is used?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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