Sarasota Limited purchased a new computer system for $155,000. It is estimated that the computer...
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Accounting
Sarasota Limited purchased a new computer system for $155,000. It is estimated that the computer will have a $12,060 residual value at the end of its five-year useful service life. The double-diminishing-balance method of depreciation will be used. Prepare a depreciation schedule that shows the annual depreciation expense on the computer system for its five-year life. (Hint: It might require an adjustment in the final year of depreciating an asset in order for the carrying amount to equal the residual value.) (Round answers to 0 decimal places, e.g. 5,275.)
Year
Carrying AmountBeginningof year
DepreciationRate
AnnualDepreciationExpense
AccumulatedDepreciation
Carrying AmountEnd of Year
1
2
3
4
5
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