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Prepare the depreciation schedule for the equipment

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Reference no: EM132576623

Question - The Company bought new equipment and provided you with the data for the equipment

Date of Purchase 2 Jan 17

Cost of equipment $53,000

Salvage value $3,000

Useful life $5 years

Depreciation method straight line

Show your work please.

Required -

A. Prepare the depreciation schedule for the equipment.

B. Prepare the depreciation journal entry for March 2018?

C. Determine the book value of the equipment Dec 31, 2021?

Reference no: EM132576623

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