5. At the beginning of the year, a company purchases equipment for $200,000 with an...
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5. At the beginning of the year, a company purchases equipment for $200,000 with an estimated salvage value of $10,000 and an estimated useful life of 20 years, a. Record the first year of depreciation assuming the company uses the straight line method of depreciation: (4 points) Description/Account Debit Credit Illustrate how the above entry will affect the accounting equation: Assets Liabilities Owner's Equity Page 3 of 12 d. After the improvement in the previous question, the remaining useful life of the estimated at 15 years with a salvage value of $12,000. Journalize the revised depreciation for the 13" year under the straight-line method: (6 points) Description/Account Debit Credit illustrate how the above entry will affect the accounting equation: Assets Liabilities Owner's Equity
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