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Question: Warden Company purchased a mini computer on January 1, 2014, at a cost of $48, 500. The computer …
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Show transcribed image text Warden Company purchased a mini computer on January 1, 2014, at a cost of $48, 500. The computer has been depreciated using the straight-line method over an estimated five-year useful life with an estimated residual value of $5,000 On January 1, 2016. the estimate of useful life was changed to a total of 10 years, and the estimate of residual value was changed to $900. 1. Prepare the appropriate adjusting entry for depreciation in 2016 to reflect the revised estimate (If no entry is required for a transaction event, select "No journal entry required" in the first account field.)

Warden Company purchased a mini computer on January 1, 2014, at a cost of $48, 500. The computer has been depreciated using the straight-line method over an estimated five-year useful life with an estimated residual value of $5,000 On January 1, 2016. the estimate of useful life was changed to a total of 10 years, and the estimate of residual value was changed to $900. 1. Prepare the appropriate adjusting entry for depreciation in 2016 to reflect the revised estimate (If no entry is required for a transaction event, select "No journal entry required" in the first account field.)

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