Units-of-activity depreciation A truck acquired at a cost of $80,000 has an estimated residual value of $8,000, has an estimated useful life of 200,000 miles, and was driven 18,000 miles during the year. Determine the following. If required, round your answer for the depreciation rate to 2 decimal places. (a) The depreciable cost 452,600 X (b) The depreciation rate 7.3 X per mile (c) The units-of-activity depreciation for the year 7.3 X Feedback

Units-of-activity depreciation A truck acquired at a cost of $80,000 has an estimated residual value of $8,000, has an estimated useful life of 200,000 miles, and was driven 18,000 miles during the year. Determine the following. If required, round your answer for the depreciation rate to 2 decimal places. (a) The depreciable cost 452,600 X (b) The depreciation rate 7.3 X per mile (c) The units-of-activity depreciation for the year 7.3 X Feedback

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter7: Operating Assets

Section: Chapter Questions

Problem 3MCQ: When depreciation is recorded each period, what account is debited? a. Depreciation Expense b. Cash...

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