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Exercise Algo Change in estimate; useful life and residual value of equipment LO
The following information applies to the questions displayed below.
Wardell Company purchased a minicomputer on January at a cost of $ The computer was depreciated using the straightline method over an estimated fiveyear life with an estimated residual value of $ On January the estimate of useful life was changed to a total of years, and the estimate of residual value was changed to $
Exercise Algo Part
Prepare the yearend journal entry for depreciation on December Assume that the company uses the doubledecliningbalance method instead of the straightline method.
Note: If no entry is required for a transactionevent select No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to nearest whole dollar.
tableNoEvent,General Journal,Debit,Credit
