Determine depreciation ex- pense for all fixed assets

Reference no: EM133659653

Question: You make adjusting journal entries for the month of January as needed. (Start with Jour- nal no. Jan24.1.) You carefully consider the following: Salish Software Solutions used the straight-line method to determine depreciation ex- pense for all fixed assets. None of the assets purchased prior to 12/31 were fully depreciated. Monthly depreci- ation expense for the assets purchased prior to 12/31 is $223.50 (Computer $166.00, Printer $37.50, and furniture $20). Sally paid $1,200 for software on 1/3. She expected the software to last two years, with no salvage value. Since the software was placed into service close to the beginning of the month, you decide to go ahead and take a full month of depreciation for January.

Reference no: EM133659653

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