Maxwell tax planning service bought communications equipment for $ 10 comma 800 on january 1, 2019. The equipment has an estimated useful life of five years and zero residual value. Maxwell uses the straightminusline method to calculate depreciation and records depreciation expense in the books at the end of each month. As of june 30, 2019, the balance in the accumulated depreciation account for this equipment is

Question

Jeffery Gillespie

Business

21 March, 08:31

Maxwell tax planning service bought communications equipment for $ 10 comma 800 on january 1, 2019. The equipment has an estimated useful life of five years and zero residual value. Maxwell uses the straightminusline method to calculate depreciation and records depreciation expense in the books at the end of each month. As of june 30, 2019, the balance in the accumulated depreciation account for this equipment is

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Dharma · Answer 1

As of june 30, 2019, the balance in the accumulated depreciation account for this equipment is $1080

Explanation:

Cost Annual Dep. Monthly

Jan-19 10800 2160 180

fen-19 180

mar-19 180

apr-19 180

may-19 180

jun-19 180

1080