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Wardell Company purchased a minicomputer on January 1, 2016, at a cost of $58,000. The computer was depreclated using the stralght-line method over an estimated
Wardell Company purchased a minicomputer on January 1, 2016, at a cost of $58,000. The computer was depreclated using the stralght-line method over an estimated five-year life with an estimated resldual value of $16,000. On January 1, 2018, the estimate of useful life was changed to a total of 10 years, and the estlimate of resldual value was changed to $2,200 Requlred 1. Prepare the year-end Journal entry for depreclation In 2018. No depreclation was recorded during the year. 2. Prepare the year-end Journal entry for depreciation In 2018. Assume that the company uses the sum-of-the-years'-digits method Instead of the straight-line method. Complete this question by entering your answers in the tabs below Required 1Required 2 Prepare the year-end journal entry for depreciation in 2018. No depreciation was recorded during the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record depreciation expense Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general jourmal Required 1 Required 2 >
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