Refer to the Real Estate Office scenario. Compute the book value at the end of the third year.

Resale Value

The estimated market value of an asset if sold again in the future.

Office Furniture

Desks, chairs, tables, cabinets, and other furnishings used in an office setting to facilitate work and storage.

Ascertain the net book value of assets by applying various methods of depreciation.
Evaluate the depreciation cost for chosen periods by applying the double-declining-balance strategy.

Verified Answer

Final Answer :

$4,896

Learning Objectives

Ascertain the net book value of assets by applying various methods of depreciation.
Evaluate the depreciation cost for chosen periods by applying the double-declining-balance strategy.