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    onkyu's Avatar
    onkyu Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Oct 6, 2011, 03:50 AM
    How to do the adjustments for May 15
    The end of the accounting period is May 15.

    May 2 Furniture & Fixtures 45,750
    Furniture & Fixtures 38,000
    Store Equipment 75,000
    May 3 Store Equipment 26,000

    Adjust the Depreciation Expense for the following:
    Furniture & Fixtures (estimated useful life of 5 years; salvage value 5,000)
    Store Equipment (estimated useful life of 5 years; salvage value 10,000)
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Oct 6, 2011, 11:45 AM
    You need to calculate depreciation for 1/2 of a month. Also to compute this you will need to know what depreciation method to use in addition to the information already provided.
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