ARB Company purchased several pieces of equipment on January 2,2016.Office Furniture cost the company $16,000,has an estimated useful life of ten years,at which time they expect to sell it for a total of $500.Office Equipment was also purchased for a total of $10,750 and has an estimated useful life of five years.They don't expect it to have any residual value at the end of that time.
Using the information shown,calculate the depreciation for 2016,2017,and 2018 if ARB Company uses the straight-line method.Complete the journal entry for the depreciation expense for 2016.

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The Answer of ARB Company purchased several pieces of equipment on January 2,2016.Office Furniture cost the company $16,000,has an estimated useful life of ten years,at which time they expect to sell it for a total of $500.Office Equipment was also purchased for a total of $10,750 and has an estimated useful life of five years.They don't expect it to have any residual value at the end of that time.
Using the information shown,calculate the depreciation for 2016,2017,and 2018 if ARB Company uses the straight-line method.Complete the journal entry for the depreciation expense for 2016.

ARB Company Purchased Several Pieces of Equipment on January 2,2016