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At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $225,000. It is expected to have a five-year life and a $35,000 salvage value. Required a. Compute the depreciation for each of the five years, assuming that the company uses (1) Straight-line depreciation (2) Double-declining balance depreciation b. Record the purchase of the computer system and the depreciation expense for the first year under straight-line and double- declining-balance methods in a financial statements model. Complete this question by entering your answers in the tabs below. Reg A1 Reg A2 ReqB Compute the depreciation for each of the five years, assuming that the company uses straight-line depreciation, Straight-line Depreciation $ 135,000 $ 81,000 Year 1 Year 2 Year 3 Year 4 Year 5 Reg A2 At the beginning of Year 1. Copeland Drugstore purchased a new computer system for $225,000. It is expected to have a five-year life and a $35,000 salvage value. Required a. Compute the depreciation for each of the five years, assuming that the company uses (1) Straight-line depreciation (2) Double-declining-balance depreciation. b. Record the purchase of the computer system and the depreciation expense for the first year under straight-line and double- declining balance methods in a financial statements model. Complete this question by entering your answers in the tabs below. Reg A1 Reg AZ Req Compute the depreciation for each of the five years, assuming that the company uses double-declining balance depreciation (Leave no cells blank - be certain to enter "0" wherever required.) Double-Declining Balance Year 1 Year 2 Year 3 Year 4 Year 5 Ree A1 Reg > Complete this question by entering your answers in the tabs below. Req A1 Reg A2 Reg B Record the purchase of the computer system and the depreciation expense for the first year under straight-line and double-declining- balance methods in a financial statements model. (In the Cash Flow column, indicate whether the item is an operating activity (OA), an Investing activity (IA), or a financing activity (FA), Ir an element is not affected by the event, leave the cell blank. Enter any decreases to account balances and cash outflows with a minus sign. Not all cells will require entry) Show less COPELAND DRUGSTORE Horizontal Statements Model Balance Sheet Income Statement Assets Stockholders Equity Statement of Revenue Book Value Cash Flows Expenses - Not Income Retained Cash + of Computer Earnings System Purchase of computer system Straight-Line Depreciation Double-Declining-Balance Depreciation Bill's Wrecker Service has just completed a minor repair on a tow truck. The repair cost was $860, and the book value prior to the repair was $4.710. In addition, the company spent $9,000 to replace the roof on a building. The new roof extended the life of the building by five years. Prior to the roof replacement, the general ledger reflected the Building account at $92,000 and related Accumulated Depreciation account at $36,400. Required After the work was completed, what book value should appear on the balance sheet for the tow truck and the building? Book Value Tow Truck Building Dynamo Monufacturing paid cash to acquire the assets of an existing company. Among the assets acquired were the following items: Patent with 4 remaining years of legal life $39,190 Goodwill 44,000 Dynamo's financial condition just prior to the acquisition of these assets is shown in Required B. Required a. Compute the annual amortization expense for these items b. Record the acquisition of the intangible assets and the related amortization expense for year 1 in a horizontal statements model, Complete this question by entering your answers in the tabs below. Required A Required B Compute the annual amortization expense for these items. Amortization expense per year Regula Required > Check my we Goodwill 44,000 Dynamo's financial condition just prior to the acquisition of these assets is shown in Required 8. Required a. Compute the annual amortization expense for these items. b. Record the acquisition of the Intangible assets and the related amortization expense for year 1 in a horizontal statements model. Complete this question by entering your answers in the tabs below. Required A Required B Record the acquisition of the intangible assets and the related amortization expense for year 1 in a horizontal statements model. (In the Cash Flow column, use the ini operating activities, FA for financing activities, or IA for investing activity. Leave the call blank if there is no effect. Enter any decreases to account balances with a minu all cells will require entry) DYNAMO MANUFACTURING Horizontal Statements Model Balance Sheet Income Statement Event Assets Patent Statement of Cash Flaws Liabilities - Equity Revenue Net Income Expenso Cash Goodwin 88,600+ 86 600 Acquisition Amortization Arizona Corp. acquired the business Data Systems for $345.000 cash and assumed allabilities at the date of purchase. Data's books showed tangible assets of $390,000, liabilities of $24,000, and stockholders' equity of $366,000. An appraiser assessed the fait market value of the tangible assets at $335.000 at the date of acquisition Arzona Corp's financial condition just prior to the acquisition is shown in Required B. Required a. Compute the amount of goodwill acquired, b. Record the acquisition in a financial statements model. Complete this question by entering your answers in the tabe below. Required A Requirea Record the acquisition in a financial statements model. (In the Cash Flow column, use OA to designate operating activity, IA for investment activity, or FA for financing act the element is not affected by the event, foave the cell blank enter any decreases to account balances and cash out with a minus sign. Not all coils wit require entry Balance Sheet ARIZONA CORR Horizontal Statements Model Income Statement Net Liabilities - Equity Reverse Expense Income Statement of Cash Flow Event Assets Asset Goodwin Cash 500.000 500.000 Acquisition