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can u help me as soon as possible ? Exercise 1: On 1 of January 2019, the company GETTY, Ltd. purchased a license for computer
can u help me as soon as possible ?
Exercise 1: On 1" of January 2019, the company GETTY, Ltd. purchased a license for computer software The price of the license is $15,000 and its useful life 5 years On January 15, 2022, the company sells a truck of its fleet for $84,000. The company had purchased it on January 1", 2019 for $136,000. The car had an estimated useful life of 6 years and an estimated salvage value of $16,000 at the date of the purchase. 1. Prepare the journal entries for the amortization of the software to be made on December 31, 2019 using the straight line method (10 points) 2. Prepare a complete depreciation schedule of the vehicle using the straight line method (10 points) 3. Prepare a complete depreciation schedule of the vehicle using the double declining balance method (10 points) 4. Record the journal entries for the sale of the vehicle taking into account that the company used the straight line method for depreciation purposes (10 points) S. Record the journalsbetries for the sale of the vehicle taking into account that the company used the double declining balance method for depreciation purposes (10 points) Step by Step Solution
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