Try another version of this question On May 1, Plattsburgh Warehouse paid cash of $16,800 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 May 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 May 31. C. Post the purchase of May 1 and the depreciation on May 1 to T accounts for the following accounts: Computer Equipment, Accumulated Depreciation—Computer Equipment, and Depreciation Expense—Computer Equipment. Show their balances at May 31. D. What is the computer equipment’s book value on May 31? Cost LESS Accumulated Depreciation - = Date Description Debit Credit May 31 May 31 Debit Credit Double line Double line Debit Credit Double line Double line Debit Credit Double line Double line Date Description Debit Credit May 31 Depreciation Expense--Computer Equipment 350 May 31 Accumulated Depreciation--Computer Equipment 350 Debit Credit 16,800 Double line16,800 Double line Debit Credit 350 Double line Double line350 Debit Credit 350 Double line350 Double line