Equipment reported in the December 31, 2013, balance sheet was purchased in January 2013. It is being depreciated over eight years under the straight-line method with no salvage value. The following amounts for new equipment purchases are planned in the coming quarter: January, $34,000; February, $97,000; and March, $29,000. This equipment will be depreciated under the straight-line method over eight years with no salvage value. A full month’s depreciation is taken for the month in which equipment is purchased.

To calculate the depreciation for each month in the coming quarter, we need to consider the depreciation expense for the existing equipment and the depreciation expense for the new equipment purchases.

1. Calculate the depreciation expense for the existing equipment:
The existing equipment was purchased in January 2013 and is being depreciated over eight years with no salvage value. To determine the annual depreciation expense, divide the cost of the equipment by the useful life:

Annual depreciation expense = Cost of equipment / Useful life
Annual depreciation expense = Cost of equipment / 8 years

Given that the equipment was purchased in January 2013, we need to determine the number of years since the purchase to calculate the depreciation expense for the current year.

Number of years since purchase = Current year - Year of purchase
Number of years since purchase = 2013 - 2013 = 0 years

As the equipment was purchased in the same year, we can directly use the annual depreciation expense in this case:

Depreciation expense for the existing equipment = Annual depreciation expense
Depreciation expense for the existing equipment = Cost of equipment / 8 years

2. Calculate the depreciation expense for the new equipment purchases:
The new equipment purchases in the coming quarter are planned as follows: January - $34,000, February - $97,000, and March - $29,000. Each of these purchases will be depreciated over eight years with no salvage value. However, since a full month's depreciation is taken for the month of purchase, we need to calculate the monthly depreciation expense for each purchase:

Monthly depreciation expense for each purchase = Cost of equipment / (8 years * 12 months)

Now, we can calculate the depreciation expense for each month in the coming quarter by summing the depreciation expense for the existing equipment and the monthly depreciation expense for any new equipment purchases in that month.

Let's calculate the monthly depreciation expenses for each month in the coming quarter:

January:
Depreciation expense = Depreciation expense for the existing equipment + Monthly depreciation expense for January's purchase

February:
Depreciation expense = Depreciation expense for the existing equipment + Monthly depreciation expense for February's purchase

March:
Depreciation expense = Depreciation expense for the existing equipment + Monthly depreciation expense for March's purchase

By following these steps and applying the given information, you can calculate the depreciation expense for each month in the coming quarter.