Red Farms purchased a diesel-powered harvester for $195,600, with an estimated residual value of $9,500. The harvester is expected to have a useful operating life of 50,000 hours. During June, the harvester was operated for 120 hours. Determine the depreciation for the month. provide answer

Red Farms purchased a diesel-powered harvester for $195,600, with an estimated residual value of $9,500. The harvester is expected to have a useful operating life of 50,000 hours. During June, the harvester was operated for 120 hours. Determine the depreciation for the month. provide answer

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 4EA: Montello Inc. purchases a delivery truck for $15,000. The truck has a salvage value of $3,000 and is...

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Answer
Determine the depreciation
Determine the depreciation for the month