A diesel-powered tractor with a cost of $111,800 and an estimated residual value of $8,400 is expected to have a useful operating life of 55,000 hours. During April, the tractor was operated 100 hours. Determine the depreciation for the month. If required, carry out any division to two decimal places.fill in the blank 1 of 1$

A diesel-powered tractor with a cost of $111,800 and an estimated residual value of $8,400 is expected to have a useful operating life of 55,000 hours. During April, the tractor was operated 100 hours. Determine the depreciation for the month. If required, carry out any division to two decimal places.fill in the blank 1 of 1$

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter18: Accounting For Long-term Assets

Section: Chapter Questions

Problem 3CE: A machine costing 350,000 has a salvage value of 15,000 and an estimated life of three years....

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A machine costing 350,000 has a salvage value of 15,000 and an estimated life of three years. Prepare depreciation schedules reporting the depreciation expense, accumulated depreciation, and book value of the machine for each year under the double-declining-balance and sum-of-the-years-digits methods. For the double-declining-balance method, round the depreciation rate to two decimal places.
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