On March 1, 2020, Peggy's Cafe acquired equipment for $220.000. The estimated life of the equipment is 5 years or 80,000 hours. The estimated residual value is $20,000. What is the depreciation for 2020, if Peggy's Cafe uses the asset 14,200 hours and uses the activity based depreciation method? (round to the nearest dollar) $29.583 $32,542 Ⓒ$35,500 $39.050 None of the above.

On March 1, 2020, Peggy's Cafe acquired equipment for $220.000. The estimated life of the equipment is 5 years or 80,000 hours. The estimated residual value is $20,000. What is the depreciation for 2020, if Peggy's Cafe uses the asset 14,200 hours and uses the activity based depreciation method? (round to the nearest dollar) $29.583 $32,542 Ⓒ$35,500 $39.050 None of the above.

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Description: On March 1, 2020, Peggy's Cafe acquired equipment for $220.000. The estimated life of theequipment is 5 years or 80,000 hours. The estimated residual value is $20.000. What is thedepreciation for 2020), if Peggy's Cafe uses the asset 14,200 hours an

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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