At the beginning of 2015, Bellamy Company acquired equipment costing £60,000. It was estimated that this equipment would have a useful life of 6 years and a residual value of £6,000 at that time. The straight-line method of depreciation was considered the most appropriate to use with this type of equipment. Depreciation is to be recorded at the end of each year.
During 2017 (the third year of the equipment's life), the company's engineers reconsidered their expectations, and estimated that the equipment's useful life would probably be 7 years (in total) instead of 6 years. The estimated residual value was not changed at that time. However, during 2020 the estimated residual value was reduced to £3,000.
Instructions
Indicate how much depreciation expense should be recorded for this equipment each year by completing the following table.

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Year Depreciation Expense Accumulated Depreciation 2015 2016 2017 2018 2019 2020 2021