Required information [The following information applies to the questions displayed below In early January 2018, NewTech purchases computer equipment for $157,000 to use in operating activities for the next four years. It estimates the equipment's salvage value at $24,000. Prepare a table showing depreciation and book value for each of the four years assuming straight-line depreciation. Straight-Line Depreciation Annual Depreciation Expense Choose Numerator: Choose Denominator: Depreciation expense Year Annual Depreciation Year-End Book Value 2018 2019 2020 2021 Total Oki Company pays $266,550 for equipment expected to last four years and have a $30,000 salvage value. Prepare journal entries to record the following costs related to the equipment. 1. During the second year of the equipment's life, $16,900 cash is paid for a new component expected to increase the equipment's productivity by 10 % a year. 2. During the third year, $4,225 cash is paid for normal repairs necessary to keep the equipment in good working order 3. During the fourth year, $9,850 is paid for repairs expected to increase the useful life of the equipment from four to five years View transaction Journal entry worksheet 1 2 3 Record the betterment cost of $16,900 paid in cash. 7 Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal