At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $250,000. It is expected to have a five-year life and a $40,000 salvage value. Record the purchase of the computer system and the depreciation expense for the first year under straight-line and double-declining-balance methods in a financial statements model. (In the Cash Flow column, indicate whether the item is an operating activity (OA), an investing activity (IA), a financing activity (FA) and net change in cash (NC). Enter any decreases to account balances and cash outflows with a minus sign. Not all cells in the "Statement of Cash Flows" column may require an input - leave cells blank if there is no corresponding input needed.)
At the beginning of Year 1, Copeland Drugstore purchased a new computer system for $250,000. It is expected to have a five-year life and a $40,000 salvage value.
Record the purchase of the computer system and the
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