Exercise 6-9A (Algo) Computing and recording straight-line versus double-declining-balance depreciation LO 6-2 6-3 At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $270,000. It is expected to have a five-year life and a $40,000 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-fine and doubledeclining-balance methods in a financial statements model. 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. Compute the depreciation for each of the five years, assuming that the company uses straight-line depreciation. Exercise 6-9A (Algo) Computing and recording straight-line versus double-declining-balance depreciation LO 6-2 6-3 At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $270,000. It is expected to have a five and a $40,000 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 doubledeclining-balance methods in a financial statements model. Complete this question by entering your answers in the tabs below. 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.) At the beginning of Year 1, Copeland Drugstore purchased a new computer-system for $270,000. It is expected to have a five-year It and a $40,000 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 doubledeclining-balance methods in a financial. statements model. Complete this question by entering your answers in the tabs below. Record the purchase of the compute system and the depreciation expense for the first year under straight-line and double-deciliningbalance methods in a financial statements model. (In the Cash Flow column, indleate 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 blank. Enter any decreases to account, balances and cash outflows with a minus sign. Not all cells will require entry.) Show less A