2. How are plant assets normally reported on the balance sheet? a. cost less accumulated depreciation b. current market values c. lower of cost or market d. replacement cost

2. equipment purchased january 1 costing $100,000 has an estimated salvage value of $10,000 and an estimated useful life of 5 years of 15,000 units. if the equipment was used 2,500 hours this year, what is the amount of depreciation for the year under the units-of-production method? a. $15,000 b. $18,000 c. $36,000 d. $40,000