This problem continues the Haupt Consulting situation from Problem 8-42 of Chapter 8. Re...

This problem continues the Haupt Consulting situation from Problem 8-42 of Chapter 8. Refer to Problem 2-64 of Chapter 2. In Chapter 2, we learned that Haupt Consulting had purchased a Dell computer and office furniture on December 3 and 4, respectively, and that they were expected to last five years.

Requirements

1. Calculate the amount of depreciation for each asset for the year ended December 31, 2010, assuming both assets are using double-declining-balance depreciation.

2. Record the entry for the one month’s depreciation. Date it December 31, 2010.