Question

tml Serial Problem Business Solutions LO P1, A Ended December 31, Ended March 31, 2818 Accumulated Computer equipment 12,800 12,e00 31,434 84,460 45,280 for くPrey 6016 Next

Answer 1

Req 1.
Depreciation on Office Equipment:
Balance of Accumulated Dep on Mar 31, 2018					720
Less: Balance on Dec 31, 2017					360
Depreciation expenses for three months					360
Annual depreciation expenses for 2018 (360*12/3)					1440
Depreciation on Computer Equipment:
Balance of Accumulated Dep on Mar 31, 2018					1500
Less: Balance on Dec 31, 2017					750
Depreciation expenses for three months					750
Annual depreciation expenses for 2018 (750*12/3)					3000
Depreciation expense for Yer 2018
office equipmente			1440
Computer equipment			3000
Req 2.
Book Value on Dec31, 2018
Office Equipment:
Cost of assets			7200
Less: Accumulated dep			1800
	(360+1440)
Net book value of Office Equipment			5400
Computer Equipment:
Cost of assets			12000
Less: Accumulated dep			3750
	(750+3000)
Net book value of Office Equipment			8250
Book Value on Dec31 , 2018
Office equipment			5400
Computer Equipment			8250
Req 3.
Average Total assets:
Beginning Total assets on Dec31 2017				84460
Ending Assets on Mar 31 2018				121868
Average Total assets:				103164
(84460+121868)/2
Total assets turnover as on Mar31, 2018:
Sales revennue for 3 months ending Mar31, 2018					45200
Divide: Average Total assets					103164
Total assets turnover as on Mar31, 2018:					0.438