Sullivan Ranch Corporation has purchased a new tractor. The following information is given: Cost: 24 150,000 24 Estimated Residual: Estimated Life in years: 5 Estimated Life in hours: 7 Actual Hours: 10,000 4 1200 Year 1 360 Year 2 270 10 Year 3 350 中 11 Year 4 220 12

Sullivan Ranch Corporation has purchased a new tractor. The following information is given: Cost: 24 150,000 24 Estimated Residual: Estimated Life in years: 5 Estimated Life in hours: 7 Actual Hours: 10,000 4 1200 Year 1 360 Year 2 270 10 Year 3 350 中 11 Year 4 220 12

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

Sullivan Ranch Corporation has purchased a new tractor. The following information is given:
Cost:
24
150,000
24
Estimated Residual:
Estimated Life in years:
5 Estimated Life in hours:
7 Actual Hours:
10,000
4
1200
Year 1
360
Year 2
270
10
Year 3
350
中
11
Year 4
220
12

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