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Wardell Company purchased a mini computer on January 1, 2014, at a cost of $45,100. The computer has been depreciated using the straight-line method over
Wardell Company purchased a mini computer on January 1, 2014, at a cost of $45,100. The computer has been depreciated using the straight-line method over an estimated five-year useful life with an estimated residual value of $4,600. On January 1, 2016, the estimate of useful life was changed to a total of 10 years, and the estimate of residual value was changed to $900 Required: 1. Prepare the appropriate adjusting entry for depreciation in 2016 to reflect the revised estimate. (lf no entry is required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list view general journal Journal Entry Worksheet Record the depreciation. Debit credit General Journal Event *Enter debits before credits done clear entry record entry
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