Crestview Estates purchased a tractor on January 1, 2018, for $65,000. The tractor's useful life is estimated to be 30,000 miles and has a residual value of $5,000. If Crestview used the tractor 5,000 miles in 2018 and 3,000 miles in 2019, what is the balance for accumulated depreciation at the end of 2019 using the activity-based method? Select one: OA. $10,000. OB. $16,000. OC. $38,000. O D. $6,000.
Crestview Estates purchased a tractor on January 1, 2018, for $65,000. The tractor's useful life is estimated to be 30,000 miles and has a residual value of $5,000. If Crestview used the tractor 5,000 miles in 2018 and 3,000 miles in 2019, what is the balance for accumulated depreciation at the end of 2019 using the activity-based method? Select one: OA. $10,000. OB. $16,000. OC. $38,000. O D. $6,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Crestview Estates purchased a tractor on January 1, 2018, for $65,000. The tractor's useful life is estimated to be 30,000
miles and has a residual value of $5,000. If Crestview used the tractor 5,000 miles in 2018 and 3,000 miles in 2019, what is
the balance for accumulated depreciation at the end of 2019 using the activity-based method?
Select one:
O A. $10,000.
O B. $16,000.
OC. $38,000.
OD. $6,000.
Next page](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe75a48aa-0e5f-4315-9bef-ff638fcbbf3b%2F0d3689a9-2e12-4c28-8a08-4ca25a711574%2F37qx677_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Crestview Estates purchased a tractor on January 1, 2018, for $65,000. The tractor's useful life is estimated to be 30,000
miles and has a residual value of $5,000. If Crestview used the tractor 5,000 miles in 2018 and 3,000 miles in 2019, what is
the balance for accumulated depreciation at the end of 2019 using the activity-based method?
Select one:
O A. $10,000.
O B. $16,000.
OC. $38,000.
OD. $6,000.
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