6 The Expenditure Cycle Pat: Payroll Processing and Fixed Asset Procedures 287 eer ‘OZMENT'S INDUSTRIAL SUPPLY ASSET LISTING Code Type Description 100 OFFA COMPUTER SYSTEM Depn. method: SL Lite in years: 5 Date acquired 1/01/09 Date reited Cost 40,000.00 Residual 4,000.00, ‘Ace, Depn, 10,800.00, 200 OFFaF ‘OFFICE FURNITURE Dopn. method: SL Lite in years: 5 Date acquire 2/01/09 Date retired Cost 5,500.00 Residual ‘500.00 ‘Ace. Depn, 2,222.23, 300 MACH SNOWBLOWER Depn. method: DDB Life in years: 5 Date acquired 2/01/09, Date retired Cost 1,000.00 Residual 0.00 ‘Ace. Depn, 499.96 400 MACH ‘Tauck Depn, method: SL Lite in years: 3 Date acquired 12/01/08 Date reed Cost 2,000.00 Residual 0.00 ‘Ace. Depa, 2,993.31 fixed assets are being used in accordance with the organization's policies and business practices, For example, microcomputers purchased for individual employees should be secured in their proper location and should not be removed from the premises without explicit approval. Company vehicles should be secured in the organization’s motor pool at the end of the shift and should not be taken home for personal use unless authorized by the appropriate supervisor.