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Brief Exercise 22-5 Skysong Company purchased a computer system for $72,200 on January 1, 2016. It was depreciated based on a 7-year life and an
Brief Exercise 22-5 Skysong Company purchased a computer system for $72,200 on January 1, 2016. It was depreciated based on a 7-year life and an $19,000 salvage value. On January 1, 2018, Skysong revised these estimates to a total useful life of 4 years and a salvage value of $10,100. Skysong uses straight-line depreciation. Prepare Skysong's entry to record 2018 depreciation expense. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit n Expense Accumulated Depreciation Equipment Click if you would like to Show Work for this question: Open Show Work SHoW LIST ACCOUNTS LINK TO TEXT
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