S3-8 (similar to) Question Help 0 On March 1, American Gold Exchange paid cash of...
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S3-8 (similar to) Question Help 0 On March 1, American Gold Exchange paid cash of $64,800 for computers that are expected to remain useful for three years. At the end of three years, the value of the computers is expected to be zero. Read the requirements. Requirement 1. Calculate the amount of depreciation for the month of March using the straight-line depreciation method. Begin by selecting the labels, than enter the amounts and compute the amount of depreciation for the month of March. (Abbreviation used; Acc. Depreciation = Accumulated Depreciation. Enter a "0" for any zero balances.) ) - = 12 months = Straight-line depreciation Requirements - X 1. Calculate the amount of depreciation for the month of March using the straight-line depreciation method. 2. Record the adjusting entry for depreciation on March 31. 3. Post the purchase of March 1 and the depreciation on March 31 to T-accounts for the following accounts: Computer Equipment, Accumulated DepreciationComputer Equipment, and Depreciation ExpenseComputer Equipment. Show their balances at March 31. 4. What is the computer equipment's book value at March 31? Print Done Choose from any drop-down list and then click Check Answer. ? 4 parts remaining Clear All Check
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