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please help me find the right answer with explanation. Thank you! Required information [The following information applies to the questions displayed below] Wardell Company purchased
please help me find the right answer with explanation.
Required information [The following information applies to the questions displayed below] Wardell Company purchased a mainframe on January 1, 2019, at a cost of $45,000. The computer was depreciated using the straight-line method over an estimated five-year life with an estimated residual value of $3,000. On January 1, 2021, the estimate of useful life was changed to a total of 10 years, and the estimate of residual value was changed to $1,800. Required: 1. Prepare the year-end journal entry for depreciation in 2021. No depreciation was recorded during the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answer to nearest whole dollar.) Required information [The following information applies to the questions displayed below.] Wardell Company purchased a mainframe on January 1, 2019, at a cost of $45,000. The computer was depreciated using the straight-line method over an estimated five-year life with an estimated residual value of $3,000. On January 1,2021 , the estimate of useful life was changed to a total of 10 years, and the estimate of residual value was changed to $1,800. 2. Prepare the year-end journal entry for depreciation in 2021. Assume that the company uses the sum-of-the-years'-digits method instead of the straight-line method. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to nearest whole dollar.) Thank you!
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