Depreciation on the equipment for the month of january is calculated using the straight-line method is 11160.
Equipment depreciation is calculated as [cost-residual value]/[useful life].
[16000-3400]/2
= 6300
Depreciation for a month is equal to 6300*1/12, or 525.
Amounts Due at End = 46400 Beginning + 136000 - 125500-4900 + 134000 = 18600
Estimated uncollectible balance at the end = [(186000-12000)*30%] + [(12000*30%] .04]
= 3600+ 6960
= 10560
Unadjusted balance in the allowance account = 4300 – 4900 = – 600 debit
Unadjusted balance in the allowance account + anticipated uncollectible account at end = bad debt expense
= 10560 - (-600) (-600)
= 10560+600
= 11160
Depreciation is the gradual lowering of a fixed asset's recorded cost over time, until the asset's value is zero or insignificant, according to accounting terminology.
Buildings, furniture, office supplies, machinery, etc. are examples of fixed assets. The one exception, as land value increases over time, is that it cannot be depreciated.
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