Ariel Tax Planning Service has the following plant assets: Communications equipment: Cost,$9,600 with useful life of 8 years;Furniture: Cost,$17,712 with useful life of 12 years;and Computer: Cost,$14,400 with useful life of 4 years.Assume the residual value of all the assets is zero and the straight-line method is used.
Ariel's monthly depreciation journal entry will include a ________.
A)debit to Depreciation Expense of $6,276
B)credit to Depreciation Expense of $6,276
C)debit to Accumulated Depreciation of $523
D)credit to Accumulated Depreciation of $523

Question

Quizplus · Accepted Answer

D)Straight-line depreciation = (Cost - Residual value)/ Useful life
Straight-line depreciation for: 11ea8a42_4f20_1b0d_8b44_676ec92f8f6b_TB5024_00 11ea8a42_4f20_1b0e_8b44_3fbbf2368ebe_TB5024_00 11ea8a42_4f20_421f_8b44_c77e0837438f_TB5024_00 11ea8a42_4f20_4220_8b44_a73ef0721ab2_TB5024_00

Ariel Tax Planning Service Has the Following Plant Assets: Communications