Question 33 (1 point) Cutter Enterprises purchased equipment for $72,000 on January 1, 2018. The equipment...

Cost of Equipment = $72,000

Residual value = $6,000

Depreciation expense under straight-line method = [cost - residual value] / useful life

Depreciation expense under straight-line method = ($72,000 - $6,000] / 5

Depreciation expense under straight-line method = $13,200

So, Depreciation expense per year = $13,200

So, Depreciation expense for 2019 = $13,200

Book value at the end of 2019 = $72,000 - ($13,200 * 2 years)

Book value at the end of 2019 = $45,600

$13,200 and $45,600 respectively