Accounting Dictionary

Residual

The residual value is the dollar value of an asset when its useful life is over.

If a machine is used until it is obsolete and will no longer work, the scrap metal dealer will give us $250 for it. The $250 is the residual value. Residual value is sometimes called salvage value.

Sign Up to Learn More!

Join our mailing list today to get notified of new discount offers, course updates, Roger CPA Review news, and more!

Scroll to Top