Wardell Company purchased a minicomputer on January 1, 2022, at a cost of $46,000. The...
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Wardell Company purchased a minicomputer on January 1, 2022, at a cost of $46,000. The computer was depreciated using the straight-line method over an estimated five-year life with an estimated residual value of $7,000. On January 1, 2024, the estimate of useful life was changed to a total of 10 years, and the estimate of residual value was changed to $1,000. Exercise 11-23 (Algo) Part 2 2. Prepare the year-end journal entry for depreciation on December 31, 2024. Assume that the company uses the double-declining-balance method instead of the straight-line method. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to nearest whole dollar
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