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Question 9: A semi-truck with an estimated 250,000-mile life and a $34,000 salvage value, was purchased on January 1, 20X1, for $376,000. If the semi-truck was run for 62,000 miles in 20X1, 77,000 miles in 20X2, 56,000 miles in 20X3, and 71,000 miles in 20X4, how much would the "depreciation expense be in 20X3" using an activity-based method? Use a manual formula. Question 10: Assume the same details as Question 9, except that you want to find how much would the semi-truck's "depreciation expense be in 20X4." Use a manual formula. Hint: Read Question 9 again carefully to get to correct formula inputs.

Question 9: A semi-truck with an estimated 250,000-mile life and a $34,000 salvage value, was purchased on January 1, 20X1, for $376,000. If the semi-truck was run for 62,000 miles in 20X1, 77,000 miles in 20X2, 56,000 miles in 20X3, and 71,000 miles in 20X4, how much would the "depreciation expense be in 20X3" using an activity-based method? Use a manual formula. Question 10: Assume the same details as Question 9, except that you want to find how much would the semi-truck's "depreciation expense be in 20X4." Use a manual formula. Hint: Read Question 9 again carefully to get to correct formula inputs.

FINANCIAL ACCOUNTING
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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Question 9: A semi-truck with an estimated 250,000-mile life and a $34,000 salvage value, was purchased on January 1, 20X1, for $376,000. If the semi-truck was run for 62,000 miles in 20X1, 77,000 miles in 20X2, 56,000 miles in 20X3, and 71,000 miles in 20X4, how much would the "depreciation expense be in 20X3" using an activity-based method? Use a manual formula. Question 10: Assume the same details as Question 9, except that you want to find how much would the semi-truck's "depreciation expense be in 20X4." Use a manual formula. Hint: Read Question 9 again carefully to get to correct formula inputs.
Transcribed Image Text:Question 9: A semi-truck with an estimated 250,000-mile life and a $34,000 salvage value, was purchased on January 1, 20X1, for $376,000. If the semi-truck was run for 62,000 miles in 20X1, 77,000 miles in 20X2, 56,000 miles in 20X3, and 71,000 miles in 20X4, how much would the "depreciation expense be in 20X3" using an activity-based method? Use a manual formula. Question 10: Assume the same details as Question 9, except that you want to find how much would the semi-truck's "depreciation expense be in 20X4." Use a manual formula. Hint: Read Question 9 again carefully to get to correct formula inputs.
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