1 answer

Why is 3938 the right answer? Question 18 0/1 pts Russin Tax Planning Service bought computer...

Question:

Question 18 0/1 pts Russin Tax Planning Service bought computer equipment for $21,000 on January 1, 2016. It has an estimated why is 3938 the right answer?
Question 18 0/1 pts Russin Tax Planning Service bought computer equipment for $21,000 on January 1, 2016. It has an estimated useful life of four years and zero residual value. Russin uses the straight-line method to calculate depreciation and records depreciation expense in the books at the end of every month. Calculate the amount of Depreciation Expense for the period, January 1, 2016 through September 30, 2016, for this equipment. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) KNOW WHAT ACCOUNT GETS CREDITED AS WELL. You Answered • $5250 Correct Answer $3938 $5688 $4375

Answers

Depreciation for the year 2016 = Cost/useful life = 21000/4years = $ 5250

The required depreciation is for the period of January 1,2016 to September,2016. That would be period of 9 months. The proportional depreciation amount needs to be debited for 9 months.

Depreciation for 9 months = 5250 * 9/12 = $ 3938

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