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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.
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 51,800 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 joumal entry required" in the first account field. Do not round Intermediate calculations. Round your final answers to nearest whole dollar.) Answer is complete but not entirely correct. No Event General Journal Credit Debit 3.3333 1 1 Depreciation expense Accumulated deprecation--computer 3.333
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