Depreciation is based on the end-of-month balance in the asset account, regardless of the date...
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Accounting
Depreciation is based on the end-of-month balance in the asset account, regardless of the date purchased. Seaside elects to use the straight-line method for calculating depreciation. Based on the balances in the following depreciable asset accounts, using the salvage value and useful life given, calculate the depreciation for each asset for the month of June.
Depreciable Asset
Salvage Value
Useful Life
Office Equipment
$240
96 months
Store Equipment
$200
120 months
Warehouse
$4000
240 months
Office Equipment is currently $1,200
Store Equipment is currently $2,470
Warehouse is currentyl $40,000
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