In early January 2009, Sanchez Builders purchases equipment for $102,000 to use in operating activities for the next five years It estimates the equipments salvage value at $21,000 Prepare a table showing depreciation and book value for each of the five years assuming straight line depreciation ...

Straightline depreciation 102000 21000 5 y ...

In early January 2009, Sanchez Builders purchases equipment for $102,000 to use in operating activities for the

Question:

In early January 2009, Sanchez Builders purchases equipment for $102,000 to use in operating activities for the next five years. It estimates the equipment’s at $21,000. Prepare a table showing depreciation and book value for each of the five years assuming straight-line depreciation.
Salvage Value
Salvage value is the estimated book value of an asset after depreciation is complete, based on what a company expects to receive in exchange for the asset at the end of its useful life. As such, an asset’s estimated salvage value is an important...