
Concept explainers
Concept Introduction:
There are several methods of depreciation such as straight-line,
Under straight-line method the depreciation method total cost less salvage value is divided by total number of useful life and depreciation is charged equally every year over the life of the asset.
Under units of production method, the total cost is divided by estimated number of units and then it is multiplied by no. of units consumed/ produced during the period.
Requirement 1:
To determine:
We have to determine the depreciation expense for office equipment and computer equipment.
Requirement 2:
To determine:
We have to determine the book value for office equipment and computer equipment.
Requirement 3:
To determine:
We have to determine the three month total asset turnover ratio as of march 31,2018.

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Chapter 10 Solutions
Fundamental Accounting Principles
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