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! Required information [ The following information applies to the questions displayed below. ] At the beginning of Year 1 , Copeland Drugstore purchased a
Required information
The following information applies to the questions displayed below.
At the beginning of Year Copeland Drugstore purchased a new computer system for $ It is expected to have a fiveyear life and a $ salvage value.
b Record the purchase of the computer system and the depreciation expense for the first year under straightline and doubledecliningbalance methods in a horizontal statements model. In the Statement of Cash Flows column, use the initials OA to designate operating activity, IA for investing activity, and FA for financing activity. Leave blank to indicate that an element is not affected by the event. Enter any decreases to account balances and cash outflows with a minus sign.
tableCOPELAND DRUGSTOREHorizontal Statements ModelBalance Sheet,Income Statement,tableStatement of CashFlowsAssetstable
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