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Depreciation is based on the end-of-month balance in the asset account, regardless of the date...

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Accounting

Depreciation is based on the end-of-month balance in the asset account, regardless of the date purchased. Seaside elects to use the straight-line method for calculating depreciation. Based on the balances in the following depreciable asset accounts, using the salvage value and useful life given, calculate the depreciation for each asset for the month of June.

Depreciable Asset Salvage Value Useful Life
Office Equipment $240 96 months
Store Equipment $200 120 months
Warehouse $4000 240 months

Office Equipment is currently $1,200

Store Equipment is currently $2,470

Warehouse is currentyl $40,000

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