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At the beginning of Year 1. Copeland Drugstore purchased a new computer system for $210,000. It is expected to have a five year life and

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At the beginning of Year 1. Copeland Drugstore purchased a new computer system for $210,000. It is expected to have a five year life and a $30,000 salvage value. Required a. Compute the depreciation for each of the five years, assuming that the company uses (1) Straight line depreciation. (2) Double declining balance depreciation, b. 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, Complete this question by entering your answers in the tabs below. Reg A1 Reg AZ Req B Compute the depreciation for each of the five years, assuming that the company uses straight line depreciation Straight line Depreciation s 84.000 Yoar 1 Year 2 Yen 3 Year 4 Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 Reg B Compute the depreciation for each of the five years, assuming that the company uses double-declining balance depreciation (Leave no cells blank - be certain to enter "0" wherever required.) Double-Declining Balance D Year 1 Year 2 Year 3 Year 4 Year 5 Req A1 Req AZ Red B 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. In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), or a financing activity (FA). If an element is not affected by the event, leave the cell blonk. Enter any decreases to account balances and cash outflows with a minus slon. Not all cells will require entry) Show less COPELAND DRUGSTORE Horizontal Statements Model Balance Sheet Income Statement Assets Stockholders Equity Net Book Value of Revenue Expenses - Retained Income Cash Computer System Earnings Purchase of computer system . Straight-Lino Depreciation Statement of Cash Flows Double-Declining Balance Depreciation

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