(Answered) Question-on april 1 2007 sas corp purchased and placed in

Accounting

Question:-On April 1, 2007, SAS Corp. purchased and placed in service a plant asset. The following information is available regarding the plant asset:

Acquisition cost $130,000

Estimated salvage value $15,000

Estimated useful life 5 years

Make the necessary adjusting journal entries at December 31, 2007, and December 31, 2008 to record depreciation for each year under the following depreciation methods:

(a.) Straight-line.

(b.) Double-declining-balance

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