If a fixed asset, such as a computer, were purchased on January 1 for $2,027 with an estimated life of 5 years and a salvage or residual value of $247, the journal entry for monthly expense under straight-line depreciation is

On January1, a machine with a useful life of five years and a residual value of R.O.25,000 was purchased for R.0.75,000. What is the accumulated depreciation for year 2 under the double- declining-balance method of depreciation?

What is the depreciation of equipment purchased at 10 years ago for $55,087 if it is depreciated using the sum of the years digits (SYD) method? The expected life is 15 years.

On January 4, 2019, Columbus Company purchased new equipment for $693,000 that had a useful life of four years and a salvage value of $53,000. Required: Prepare a schedule showing the annual depreciation and end-of-year accumulated depreciation for the first three years of the asset's life under the straight-line method, the sum-of-the-years'-digits method, and the double-declining-balance method. Analyze: If the double-declining balance method is used to compute depreciation, what would be the book value of the asset at the end of 2020? Complete this question by entering your answers in the tabs below. Straight Line Sum of Year Digits Year 2019 2020 2021 Double Declining Prepare a schedule showing the annual depreciation and end-of-year accumulated depreciation for the first three years of the asset's life under the straight-line method. Acquisition Cost Analyze STRAIGHT-LINE METHOD Salvage Value Useful Life years years years Annual Depreciation Accumulated Depreciation