A tractor acquired at a cost of $420,000 has an estimated residual value of $30,000, has an estimated useful life of 25,000 hours, and was operated 1,850 hours during the year.Determine (a) the depreciable cost, (b) the depreciation rate, and (c) the units-of-activity depreciation for the year.

The cost of an asset is $1,180,000​, and its residual value is $260,000. Estimated useful life of the asset is five years. Calculate depreciation for the second year using the double−declining−balance method of depreciation.

Equipment with a cost of $154,032 has an estimated residual value of $9,279 and an estimated life of 4 years or 14,078 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 for 3,317 hours? a.$36,188.25 b.$34,106.10 c.$38,508.00 d.$34,149.74

A truck acquired at a cost of $195,000 has an estimated residual value of $11,250, has an estimated useful life of 35,000 miles, and was driven 2,800 miles during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places. (a) The depreciable cost     (b) The depreciation rate   per mile (c) The units-of-activity depreciation for the year

Copy equipment was acquired at the beginning of the year at a cost of $41,560 that has an estimated residual value of $3,800 and an estimated useful life of 5 years. It is estimated that the machine will output an estimated 944,000 copies. This year, 271,000 copies were made. Determine the (a) depreciable cost, (b) depreciation rate, and (c) units-of-activity depreciation for the year. Round "depreciation rate" to two decimal places. a.  Depreciable cost $fill in the blank 1   b.  Depreciation rate fill in the blank 2 per copy c.  The units-of-output depreciation for the year $fill in the blank 3

Sale of Equipment Equipment was acquired at the beginning of the year at a cost of $587,500. The equipment was depreciated using the straight-line method based on an estimated useful life of 9 years and an estimated residual value of $47,305. a. What was the depreciation for the first year? Round your answer to the nearest cent. b. Using the rounded amount from Part a in your computation, determine the gain or loss on the sale of the equipment, assuming it was sold at the end of year eight for $100,097. Round your answer to the nearest cent. Enter your answer as a positive amount. Feedback c. Journalize the entry to record the sale. If an amount box does not require an entry, leave it blank. Round your answers to the nearest cent.

Units-of-activity Depreciation A truck acquired at a cost of $250,000 has an estimated residual value of $15,500, has an estimated useful life of 35,000 miles, and was driven 3,200 miles during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places. (a) The depreciable cost (b) The depreciation rate %24 per mile (c) The units-of-activity depreciation for the year

Layton Company purchased tool sharpening equipment on October 1 for $108,000. The equipment was expected to have a useful life of three years, or 12,000 operating hours, and a residual value of $7,200. The equipment was used for 1,350 hours during Year 1, 4,200 hours in Year 2, 3,650 hours in Year 3, and 2,800 hours in Year 4.  In a table show depreciation expense, accumulated deprecation at the end of the year, beginning and ending book value (Use double declining method only)   Cost        Beginning   Book Value      Accumulated    Deprecation   Depreciation    expense    Book value    at End

Computer equipment was acquired at the beginning of the year at a cost of $57,000 that has an estimated residual value of $9,000 and an estimated useful life of 5 years. Determine the 2nd year's depreciation using straight-line depreciation method.

Computer equipment was acquired at the beginning of the year at a cost of $70,800. It had an estimated residual value of $3,400 and an estimated useful life of five years. Determine the (a) depreciable cost, (b) straight-line rate, and (c) annual straight-line depreciation. a.  Depreciable cost $   b.  Straight-line rate   % c.  Annual straight-line depreciation $