Footnote 3 contains information about Ocean's Plant and Equipment. For this question only, assume Ocean's Plant and Equipment has zero residual (salvage) value. As of December 31, 2023, the percentage of Ocean's Plant and Equipment "used up" was closest to: Group of answer choices 55.5%. 30.9%. 20.9%. 5.1%. 23.6%. Footnote 3: Plant and Equipment Ocean uses the straight-line method to depreciate its plant & equipment. 12/31/2023 12/31/2022 Plant & Equipment, at cost $4,781,026 $4,199,280 Less: Accumulated Depreciation 1,127,300 881,300 Plant & Equipment, net $3,653,726 $3,317,980
Footnote 3 contains information about Ocean's Plant and Equipment. For this question only, assume Ocean's Plant and Equipment has zero residual (salvage) value. As of December 31, 2023, the percentage of Ocean's Plant and Equipment "used up" was closest to: Group of answer choices 55.5%. 30.9%. 20.9%. 5.1%. 23.6%. Footnote 3: Plant and Equipment Ocean uses the straight-line method to depreciate its plant & equipment. 12/31/2023 12/31/2022 Plant & Equipment, at cost $4,781,026 $4,199,280 Less: Accumulated Depreciation 1,127,300 881,300 Plant & Equipment, net $3,653,726 $3,317,980
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Footnote 3 contains information about Ocean's Plant and Equipment.
For this question only, assume Ocean's Plant and Equipment has zero residual (salvage) value. As of December 31, 2023, the percentage of Ocean's Plant
and Equipment "used up" was closest to:
Group of answer choices
55.5%.
30.9%.
20.9%.
5.1%.
23.6%.
Footnote 3: Plant and Equipment
Ocean uses the straight-line method to depreciate its plant & equipment.
12/31/2023
12/31/2022
Plant & Equipment, at cost
$4,781,026 $4,199,280
Less: Accumulated Depreciation
1,127,300
881,300
Plant & Equipment, net
$3,653,726
$3,317,980
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