How to calculate the residual value of elevator

The residual value can be calculated by 3-5%.

Elevator belongs to the category of mechanical equipment in fixed assets. Depreciation life 10 year, annual depreciation rate 10%, and residual value can be controlled at 3-5%. According to the depreciation period, depreciation rate and residual value deduction, the annual depreciation amount and monthly depreciation amount are calculated, and depreciation is accrued monthly. Debit management expenses depreciation expenses and credit accumulated depreciation.