Kansas Enterprises purchased equipment for $77,000 on January 1, 2012. The equipment is expected to have a five-year life, with a residual value of…
Kansas Enterprises purchased equipment for $77,000 on January 1, 2012. The equipment is expected to have a five-year life, with a residual value of $6,900 at the end of five years.Using the straight-line method, depreciation expense for 2013 and the book value at December 31, 2013 would be:
