Question: Compute the depreciation expense and record the entry for each year under the straight-line and double-declining balance methods for the following asset: Date Acquired Cost

Compute the depreciation expense and record the entry for each year under the straight-line and double-declining balance methods for the following asset:

Date Acquired Cost Salvage Value Useful Life

January 1, 2013 $100,000 $5,000 5 years

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