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Units-of-Activity Depreciation A tractor acquired at a cost of $678,000 has an estimated residual value of $48,000, has an estimated useful life of 45,000 hours, and was operated 3,330 hours during the year. Determine the following. a. The depreciable cost b. The depreciation rate c. The units-of-activity depreciation for the year $ per hour

Units-of-Activity Depreciation A tractor acquired at a cost of $678,000 has an estimated residual value of $48,000, has an estimated useful life of 45,000 hours, and was operated 3,330 hours during the year. Determine the following. a. The depreciable cost b. The depreciation rate c. The units-of-activity depreciation for the year $ per hour

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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K Units-of-Activity Depreciation A tractor acquired at a cost of $678,000 has an estimated residual value of $48,000, has an estimated useful life of 45,000 hours, and was operated 3,330 hours during the year. Determine the following. a. The depreciable cost b. The depreciation rate c. The units-of-activity depreciation for the year D $ $ per hour
Transcribed Image Text:K Units-of-Activity Depreciation A tractor acquired at a cost of $678,000 has an estimated residual value of $48,000, has an estimated useful life of 45,000 hours, and was operated 3,330 hours during the year. Determine the following. a. The depreciable cost b. The depreciation rate c. The units-of-activity depreciation for the year D $ $ per hour
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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation
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