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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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