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Vertical statements format. U UI CUTIUWS IUI 2018 al 2019. Use Exercise 6-9 Computing and...

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Vertical statements format. U UI CUTIUWS IUI 2018 al 2019. Use Exercise 6-9 Computing and recording straight-line versus double-declining-balance depreciation At the beginning of 2018, Copeland Drugstore purchased a new computer system for $52,000. It i expected to have a five-year life and a $7,000 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 und straight-line and double-declining-balance methods in a financial statements model like the fo lowing one. Assets Equity Rev. Exp. Cash + Book Value of Comp. Sys. = Ret. Earn

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