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Can you help with this? Wardell Company purchased a mini computer on January 1, 2019, at a cost of $46,800. The computer has been depreciated
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Wardell Company purchased a mini computer on January 1, 2019, at a cost of $46,800. The computer has been depreciated using the straight-line method over an estimated veyear useful life with an estimated residual value of $4,800. On January 1, 2021, the estimate of useful life was changed to a total of 10 years, and the estimate of residual value was changed to $600. 1 Prepare the appropriate adjusting entry for depreciation in 2021 to reect the revised estimate, assuming that the company uses the sumoftheyears'digits method instead of the straightline method. {If no entry is required for a transactionievent, select "No journal entry required" in the rst account eld. Do not round intermediate calculations and round your nal answers to nearest whole dollar.) View transaction list Journal entry worksheet Record the depreciation. Note: Enter debits before creditsStep by Step Solution
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