On March 10, 2022, Bonita Company sells equipment that it purchased for $209,280 on August 20, 2015. It was originally estimated that the equipment would have a life of 12 years and a salvage value of $18,312 at the end of that time, and depreciation has been computed on that basis. The company uses the straight-line method of depreciation. Compute the depreciation charge on this equipment for 2015, for 2022, and the total charge for the period from 2016 to 2021, inclusive, under each of the six following assumptions with respect to partial periods. (Round depreciation per day to 2 decimal places, eg 15.64 and final answers to O decimal places, eg. 45,892.) 2015 2016-2021 Inclusive 2022 Depreciation is computed for the exact period of time during which the asset is owned. 1. 2$ $ 24 (Use 365 days for base and record depreciation through March O 2022)

On March 10, 2022, Bonita Company sells equipment that it purchased for $209,280 on August 20, 2015. It was originally estimated that the equipment would have a life of 12 years and a salvage value of $18,312 at the end of that time, and depreciation has been computed on that basis. The company uses the straight-line method of depreciation. Compute the depreciation charge on this equipment for 2015, for 2022, and the total charge for the period from 2016 to 2021, inclusive, under each of the six following assumptions with respect to partial periods. (Round depreciation per day to 2 decimal places, eg 15.64 and final answers to O decimal places, eg. 45,892.) 2015 2016-2021 Inclusive 2022 Depreciation is computed for the exact period of time during which the asset is owned. 1. 2$ $ 24 (Use 365 days for base and record depreciation through March O 2022)

Name: record depreciationthrough March 9, 2022.)%24Depreciation is computed
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Description: record depreciationthrough March 9, 2022.)%24Depreciation is computedfor the full year on theJanuary 1 balance in the2.2424asset account.Depreciation is computedfor the full year on the3.242$December 31 balance inthe asset account.Depreciation for o

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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