Required information Exercise 8-9 A Computing and recording straight-line versus double-declining-balance depreciation L

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Required information Exercise 8-9 A Computing and recording straight-line versus double-declining-balance depreciation L

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Required Information Exercise 8 9 A Computing And Recording Straight Line Versus Double Declining Balance Depreciation L 1
Required Information Exercise 8 9 A Computing And Recording Straight Line Versus Double Declining Balance Depreciation L 1 (174.19 KiB) Viewed 26 times
Required Information Exercise 8 9 A Computing And Recording Straight Line Versus Double Declining Balance Depreciation L 2
Required Information Exercise 8 9 A Computing And Recording Straight Line Versus Double Declining Balance Depreciation L 2 (325.52 KiB) Viewed 26 times
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Required information Exercise 8-9 A Computing and recording straight-line versus double-declining-balance depreciation LO 8- 2, 8-3 [The following information applies to the questions displayed below.) At the beginning of Year 1, Copland Drugstore purchased a new computer system for 110,000. It is expected to have a five-year life and a $20,000 salvage value. Exercise 8-9A Part a Required a. Compute the depreciation for each of the five years, assuming that the company uses (1) Straight-line depreciation. Straight-line depreciation (2) Double-declining-balance depreciation. Double- Declining Year 1 Year 2 Year 3 Year 4 Year 5

Exercise 8-9A Part c c. Prepare the journal entries to recognize depreciation for each of the five years, assuming that the company uses (1) Straight-line depreciation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 > Record depreciation expense. Note: Enter debits before credits. General Journal Debit Credit Date Yr. 1 Record entry View general journal Clear entry (2) Double-declining-balance depreciation. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet < 1 2 3 4 5 > Record depreciation expense for year 1. Note: Enter debits before credits. General Journal Debit Credit Date Yr. 1 Record entry View general journal Clear entry

Journal entry worksheet < 1 23 4 5 > Record depreciation expense for year 2. Note: Enter debits before credits. General Journal Debit Credit Date Yr. 2 Record entry View general journal Clear entry

Journal entry worksheet < 1 N 2 3 3 4 5 > Record depreciation expense for year 3. Note: Enter debits before credits. General Journal Debit Credit Date Yr. 3 Record entry View general journal Clear entry

Journal entry worksheet < 1 2 3 3 4 5 > Record depreciation expense for year 4. Note: Enter debits before credits. General Journal Debit Credit Date Yr. 4 Record entry View general journal Clear entry

Journal entry worksheet < 1 2 3 4 5 Record depreciation expense for year 5. Note: Enter debits before credits. General Journal Debit Credit Date Yr. 5 Record entry View general journal Clear entry
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