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Equipment with a cost of $156,668 has an estimated residual value of $8,790 and an estimated life of 4 years or 15,613 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used 3,314 hours? a. $36,969.50 b. $44.62 c. $4.00 d. $31,388.44

Equipment with a cost of $156,668 has an estimated residual value of $8,790 and an estimated life of 4 years or 15,613 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used 3,314 hours? a. $36,969.50 b. $44.62 c. $4.00 d. $31,388.44

College Accounting, Chapters 1-27
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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Equipment with a cost of $156,668 has an estimated residual value of $8,790 and an estimated life of 4 years or 15,613 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used 3,314 hours?

a. $36,969.50
b. $44.62
c. $4.00
d. $31,388.44
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