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On January 1,Year 1,Acadia purchased a computer system that cost $1,480,000.The estimated useful life of the computer is 3 years and salvage value is $40,000.Straight-line depreciation is to be used.On January 1,Year 2,the company determined that the estimated useful life of the computer would be 4 years instead of 3 years.The estimated salvage value will only be $10,000.
Prepare the journal entry to record depreciation expense for Year 1.
Prepare the journal entry to record depreciation expense for Year 2.
Cross-Price Elasticity of Demand
A measurement of how the quantity demanded of one good responds to a change in the price of another good, indicating whether they are substitutes or complements.
Cross-Price Elasticity
A measure in economics that shows how the quantity demanded of one good responds to a change in the price of another good.
Cross-Price Elasticity of Demand
An indicator of how the demand for one product shifts following a change in the cost of a separate product.
Midpoint Method
A technique used in economics to calculate the elasticity of demand or supply between two points on a curve, which averages percentages of change in quantity and price.
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