Company C. purchased equipment for 100,000 on 1/1/2020. The depreciation expense on the equipment was...
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Accounting
Company C. purchased equipment for 100,000 on 1/1/2020. The depreciation expense on the equipment was 10,000 for 2020 and 10,000 for 2021. The residual value of the equipment is 10,000. At 12/31/2021 what is the book value of the equipment?
A. 100,000
B. 90,000
C. 80,000
D. 70,000
E. None of the above
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