Record depreciation for two months on the equipment and office furniture by Nicole in the following transaction. There is no salvage value. use the straight-line method as described in the Accounting Policies section.
Nicole's transaction :Nov.1 Nicole contibutes $45,000 in cash, computer equipment and software with a current market value of 3, 024 and office furniture with a market value o 2, 016 to the Company. Nicole has originally paid 7,500 and 3,500 for the computer equipment & software and furniture, respectively. Matthew contributes 50, 040 in cash to the Company. They incorporated as Bruin Dog Company, Inc. They open a checking account at the First Namk of Northridge. Record this as one compund journal entry to the General Journal,. They each received 1,000 shares of common stock with a par value of $1.