A diesel-powered tractor with a cost of $249,520 and an estimated residual value of $7,600 is expected to have a useful operating life of 72,000 hours. During April, the tractor was operated 300 hours.

A diesel-powered tractor with a cost of $249,520 and an estimated residual value of $7,600 is expected to have a useful operating life of 72,000 hours. During April, the tractor was operated 300 hours.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter18: Accounting For Long-term Assets

Section: Chapter Questions

Problem 3CE: A machine costing 350,000 has a salvage value of 15,000 and an estimated life of three years....

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A diesel-powered tractor with a cost of $249,520 and an estimated residual value of $7,600 is expected to have
a useful operating life of 72,000 hours. During April, the tractor was operated 300 hours.
Determine the depreciation for the month. If required, carry out any division to two decimal places.

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