Question
On January 9, 2018, Ice Breaker Company paid $245,000 Cash for a computer system. In addition to the basic purchase price, the company paid a
On January 9, 2018, Ice Breaker Company paid $245,000 Cash for a computer system. In addition to the basic purchase price, the company paid a setup fee of $800, sales tax of $6,400, and $27,800 for a special platform on which to place the computer. Ice Breakers management estimates that the computer will remain in service for five years and have a residual value of $20,000. If rounding is necessary, use two decimal places. 1. Prepare a depreciation schedule showing asset cost, depreciation expense, accumulated depreciation, and asset book value. Begin by filling out the schedule through 2019, and then complete the schedule by entering the amounts through 2022.
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