office equipment Accumulated depreciation-office equipment Computer equipment Accumulated depreciation-Computer equipment Total revenue Total asseto For Three Months Ended December 31, 2021 $ 7,800 390 26,000 1,625 31,684 83,760 Complete this question by entering your answers in the tabs below. Office equipment Computer equipment Required: 1. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2022. Compute amounts for the year ended December 31, 2022, for Depreciation expense-Office equipment and for Depreciation expense- Computer equipment (assume use of the straight-line method). 2. Given the assumptions in part 1, what is the book value of both the office equipment and the computer equipment as of December 31, 2022? 3. Compute the three-month total asset turnover for Business Solutions as of March 31, 2022. Depreciation Expense For Three Months Ended March 31, 2022 $7,800 780 26,000 3,250 44,200 120,768 Required 1 Required 2 Required 3 Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2022. Compute amounts for the year ended December 31, 2022, for Depreciation expense-Office equipment and for Depreciation expense- Computer equipment (assume use of the straight-line method).
office equipment Accumulated depreciation-office equipment Computer equipment Accumulated depreciation-Computer equipment Total revenue Total asseto For Three Months Ended December 31, 2021 $ 7,800 390 26,000 1,625 31,684 83,760 Complete this question by entering your answers in the tabs below. Office equipment Computer equipment Required: 1. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2022. Compute amounts for the year ended December 31, 2022, for Depreciation expense-Office equipment and for Depreciation expense- Computer equipment (assume use of the straight-line method). 2. Given the assumptions in part 1, what is the book value of both the office equipment and the computer equipment as of December 31, 2022? 3. Compute the three-month total asset turnover for Business Solutions as of March 31, 2022. Depreciation Expense For Three Months Ended March 31, 2022 $7,800 780 26,000 3,250 44,200 120,768 Required 1 Required 2 Required 3 Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2022. Compute amounts for the year ended December 31, 2022, for Depreciation expense-Office equipment and for Depreciation expense- Computer equipment (assume use of the straight-line method).
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:office equipment
Accumulated depreciation-office equipment
Computer equipment
Accumulated depreciation-Computer equipment
Total revenue
Total assets
Required:
1. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2022. Compute
amounts for the year ended December 31, 2022, for Depreciation expense-Office equipment and for Depreciation expense-
Computer equipment (assume use of the straight-line method).
2. Given the assumptions in part 1, what is the book value of both the office equipment and the computer equipment as of
December 31, 2022?
3. Compute the three-month total asset turnover for Business Solutions as of March 31, 2022.
Complete this question by entering your answers in the tabs below.
Required 1
For Three Months
Ended December
31, 2021
$ 7,800
390
26,000
1,625
31,684
83,760
Required 2
Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2022. Compute
amounts for the year ended December 31, 2022, for Depreciation expense-Office equipment and for Depreciation expense-
Computer equipment (assume use of the straight-line method).
Required 3
Office equipment
Computer equipment
Depreciation
Expense
For Three Months
Ended March 31,
2022
$ 7,800
780
26,000
3,250
44,200
120,768
Required 1
Required 2 >
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