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need help to solve this question(calculation of depreciation) Depreciation by Two Methods; Sale of Fixed Asset New lithdgranhic equipment, acquired at a cast of $937,500

need help to solve this question(calculation of depreciation)

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Depreciation by Two Methods; Sale of Fixed Asset New lithdgranhic equipment, acquired at a cast of $937,500 on March 1 of Year 1 (beginning of the scal year), has an estimated useful life ofve years and an estimated residual value of $80,600. The manager requested information regarding the effect of alternative methods on the amount of depreciation expense each year. On March 4 of Year 5, the equipment was sold for $137,300. Required: 1. Determine the annual depreciation expense for each ofthe animated ve years of use, the accumulated depreciation at the end of each year, and the book value of the equipment at the end qfeach year by the following methods: a. Straighteline method Depreciation Accu mu lahed Depreciation, Book Value, Year Expense End of Year End aerar 1 it: 5:] $[:1 2 at: #:l $:] 3 at: E $l:] 4 i: E $[:1 5 it: C $[:1 II. Douhle-declining-halance method Depreciation Accumulated Depreciation, Book Value. Year Expense End of Year End aerar 1 45:] 39:] C] 2 44:] E $:] 3 44:] E $:] 4 4;: 5i:l C] 5 as: #:l C] 2. Journalize the entry to record the sale assuming that the manager chase the double declining-balance method. If an amount box does not require an entry, leave it blank. ':]l:] 'CICI

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