Try another version of this question On October 1, Plattsburgh Warehouse paid cash of $16,320 for computers that are expected to remain useful for four years. At the end of 4 years, the value of the computers is expected to be zero. A. Calculate the amount of depreciation for the month of October using the straight-line depreciation method. Yearly Depreciation = (Cost - Residual Value)/(Time) Yearly Depreciation = / = per year One-Months Depreciation = (Yearly Depreciation)/(12) One-Months Depreciation = /12 = per month. B. Record the adjusting entry for depreciation on October 31. C. Post the purchase of October 1 and the depreciation on October 1 to T accounts for the following accounts: Computer Equipment, Accumulated Depreciation—Computer Equipment, and Depreciation Expense—Computer Equipment. Show their balances at October 31. D. What is the computer equipment’s book value on October 31? Cost LESS Accumulated Depreciation - = Date Description Debit Credit October 31 October 31 Debit Credit Double line Double line Debit Credit Double line Double line Debit Credit Double line Double line Date Description Debit Credit October 31 Depreciation Expense--Computer Equipment 340 October 31 Accumulated Depreciation--Computer Equipment 340 Debit Credit 16,320 Double line16,320 Double line Debit Credit 340 Double line Double line340 Debit Credit 340 Double line340 Double line