Question
At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $260,000. It is expected to have a five-year life and a
At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $260,000. It is expected to have a five-year life and a $40,000 salvage value. Compute the depreciation for each of the five years, assuming that the company uses (1) Straight-line depreciation. (2) Double-declining-balance depreciation. Record the purchase of the computer system and the depreciation expense for the first year under straight-line and double-declining-balance methods in a financial statements model. Compute the depreciation for each of the five years, assuming that the company uses straight-line depreciation.
I only need straight line for each of the 5 years assuming the company uses straight line depreciation
year 1
year 2
year 3
year 4
year 5
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