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Help please! (b) Domino, Inc uses straight-line depreciation with a half-year convention in its financial statements. On March 10, 2018, Domino acquired a computer system
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(b) Domino, Inc uses straight-line depreciation with a half-year convention in its financial statements. On March 10, 2018, Domino acquired a computer system at a cost of $98,800. Estimated useful life is six years, with residual value of $5,200 1) Complete the following schedule, showing depreciation expense Domino expects to recognize each year in the financial statements. Depreciation Accumulated Depreciation Book Value Year End Year Book Value Start Expense 2018 2019 2020 2021 2022 2023 2024 2) Assume Domino sells the computer system on October 3, 2021, for $26,650 (hint: pay attention to the start month (March) of depreciation & sell date (Oct) For financial statement purposes, compute the book value of the computer system at date of disposal and the gain or loss on disposal. (indicate gain or loss) Book value (date of sale) Gain or loss on disposal
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