Russin Tax Planning Service bought computer equipment for $24,000 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.)

Russin Tax Planning Service bought computer equipment for $24,000 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.)

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Description: Russin Tax Planning Service bought computer equipment for $24,000 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 expen

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter19: Accounting For Plant Assets, Depreciation, And Intangible Assets

Section: Chapter Questions

Problem 1CP

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