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Selected ledger account balances for Business Solutions follow. For Three Months Ended December 31, 2019 For...

Selected ledger account balances for Business Solutions follow.

For Three Months
Ended December 31, 2019		 For Three Months
Ended March 31, 2020
Office equipment $ 7,900 $ 7,900
Accumulated depreciation—Office equipment 395 790
Computer equipment 18,000 18,000
Accumulated depreciation—Computer equipment 1,125 2,250
Total revenue 32,034 44,800
Total assets 82,860 121,668


Required:
1. Assume that Business Solutions does not acquire additional office equipment or computer equipment in 2020. Compute amounts for the year ended December 31, 2020, for Depreciation expense—Office equipment and for Depreciation expense—Computer equipment (assume use of the straight-line method).
2. Given the assumptions in part 1, what is the book value of both the office equipment and the computer equipment as of December 31, 2020?
3. Compute the three-month total asset turnover for Business Solutions as of March 31, 2020.

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ekkarill92 answered 1 year ago
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