Question: I need help help finding the debit and credit dollar amounts. Required information [The following information applies to the questions displayed below.] Wardell Company purchased

I need help help finding the debit and credit dollar amounts. I need help help finding the debit and credit dollar amounts. Required

Required information [The following information applies to the questions displayed below.] Wardell Company purchased a minicomputer on January 1, 2022, at a cost of $51,000. The computer was depreciated using the straight-line method over an estimated five-year life with an estimated residual value of $3,000. 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 $600 Required: 1. Prepare the year-end journal entry for depreciation on December 31, 2024. No depreciation was recorded during the year. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your final answers to nearest whole dollar

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!