6 - 0 x 5 ACC2202 Assignment 1 x + V

ACC2202Assignment 1 of6 p p Type here to search Fitto page Page view A)) Read aloud Question 6: (12 marks) Xeno Cc incurred the following transactions conceming its computer: Jan 8, 2017 Jan 1 2018 June 1 2019 Oct 1, 2019 Purchase the computer with a base price of $3,500 plus a special hard disk drive that cost $2,800. Estimated useful life is 5 years and residual value is $300. Straight-line depreciation is to be used. Chan ed estimated useful life from 5 ears to 4 ears. Paid $150 forr ular maintenance on the com uter. Paid $2,575 for a major overhaul of the computer that extended the useful life by 2 years. However, it was now estimated that there would be no residual value at the end of the computers useful life. Xeno Co uses the calendar year as its fiscal year. Required: a) Prepare the journal entry to record depreciation expense for 201 T b) Prepare the journal entry to record depreciation expense for 2018. c) Prepare the journal entry to record depreciation expense for 2019. Note: For this question, in particular, it is important to show supporting calculations for your journal entry amounts. It may allow me to assign part marks if your final answer is incorrect. Round all calculations to the nearest whole month. e L Add notes EN 12:46 PM 2020-03-04