Homework Answers
(1)
|
Depreciation Expense |
|
|
Office Equipment |
$1500 |
|
Computer Equipment |
$3000 |
(2)
|
Book Value |
|
|
Office Equipment |
$5625 |
|
Computer Equipment |
$8250 |
(3) Total Asset turnover = 0.37 time
Explanations
1.
=Change in depreciation for first three months of the year * 4 since we want the annual depreciation figures.
Depreciation expense - Office equipment: (750-375)*4
=$1500
Depreciation expense - Computer equipment: (1500 -750)*4
=$3000
2.
Net book value = Cost - accumulated depreciation
Office equipment = 7500 - 375-1500
=$5625
Computer equipment =12000-750-3000
= $8250
3.
Asset turnover = Revenue/Assets
=44300/120668
=0.37 times
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i have the other ones correct but i keep doing the math still
comes up wrong
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