New lithographic equipment, acquired at a cost of $950,400 at the beginning of a fiscal year, has an estimated useful life of five years and an estimated residual value

The estimated value of a fixed asset at the end of its useful life.

of $106,920. The manager requested information regarding the effect of alternative methods on the amount of depreciation expense each year. On the basis of the data presented to the manager, the double-declining-balance method

A method of depreciation that provides periodic depreciation expense based on the declining book value of a fixed asset over its estimated life.

was selected.

In the first week of the fifth year, the equipment was sold for $154,682.

	Required:
1.	Determine the annual depreciation expense for each of the estimated five years of use, the accumulated depreciation at the end of each year, and the book value The cost of a fixed asset minus accumulated depreciation on the asset. of the equipment at the end of each year by (a) the straight-line method A method of depreciation that provides for equal periodic depreciation expense over the estimated life of a fixed asset. and (b) the double declining- balance method. Round your answers to the nearest whole dollar.
2.	On January 1, journalize the entry to record the sale. Refer to the Chart of Accounts for exact wording of account titles.
3.	On January 1, journalize the entry to record the sale, assuming that the equipment was sold for $108,792 instead of $154,682. Refer to the Chart of Accounts for exact wording of account titles