Accounting for depreciation IFRS vs. ASPE Alberta Company acquires a piece of equipment on April 1 with a total cost of $25,000. The company estimates that the equipment has an estimated useful life of 3 years with a residual value of $1,000 and a total life of 5 years with no salvage value. Alberta Company has a December 31 year end and uses straight line depreciation. Instructions: a) Assume that Alberta Company is a publicly traded company. What is the depreciable value of the equipment? Record the entry for the depreciation charge at year end. b) If Alberta Company uses ASPE, does the depreciable value change? If so, what would the value be? Record the year-end entry using ASPE.