4 5 1 6 7 8 overhaul which cost $3,300. The first tank of fuel cost $200. expected to last 10 years and have a salvage value of $10,000. On 1/2/15 Timber Farms purchased a used tractor for $77, 500. Before the tractor could be placed in service it required new tires which cost $4,200 and an The tractor is 9 10 Miles driven during each of the ten years are as follows: 11 12 2015 19,000 13 2016 23,000 14) 2017 33,000 15 2018 29,000 16 2019 25,000 17 2020 19,000 18 2021 15,000 19 2022 10,000 201 2023 9,000 21 2024 5,500 22 23 Total 187,500 24 25 a Determine the cost of the used tractor 26 27 28 29 30 31 32 33 34 35 b Prepare the journal entry to record the acquisition of the used tractor. 36 37 38 39 40 Question 1 e Calculate the depreciation expense of the tractor for each of the ten years using the straight line method. Question 2 Inter Acessity investigate 100 Type here to search IT Copy BIU A. Mege Center Formati Formit Painter Number 6 Font Alignment Clipboard 27 X Se A B D E F G H K Courie d Calculate the depreciation expense of the tractor for each of the ten years using the units of activity method. 9 0 1 2 3. 54 35 66 67 68 69 70 71 72 73 74 Calculate the depreciation expense of the tractor for each of the ten years using the declining balance method. 64 FREERSENSO 75 76 77 78 79 00 81 32 Question 1 Question 2 Type here to search ii C27 x fo K L A B D E G H 88 89 Prepare journal entry to record depreciation expense at the end of 2022, under each method. 90 91 Straight line method 92 93 94 95 96 Units of activity method. 97 98 99 100 101 Declining balance method 102 103 104 105 106 107 108 109 g On July 1, 2021 Timber Farms sold the tractor. Prepare the journal entry to record the sale under each depreciation method. Timber Farms sold the tractor for $28,000 110 111 11 Timber Farms sold the tractor for $20,000. 112 1131 114 115 If Timber sold the tractor for $28,000 116 117 Straight Line Method 118 119 120 121 122 123 124 125 Question 1 Question 2 Enter Accessibility Investigate Copy BIU- Algnment Font Cipboard C27 x J G H O D 140 149 150 11 If Timber sold the tractor for $20,000 151 152 Straight Line Method 153 154 155 156 157 150 159 160 161 162 163 Units of Activity Method 164 165 166 167 160 169 170 171 172 173 174 Declining Balance Method 175 176 177 178 179 100 141 103 104 185 Number h me that Timber Farms was unable to sell the tractor, prepare the journal Question 1 Question 2 Type here to search A.ZG C27 88 A B D E F G H K Prepare journal entry to record depreciation expense at the end of 2022, under each method. 89 90 91 Straight line method. 92 93 94 95 96 Units of activity method 97 98 99 100 101 102 103 Declining balance method 104 105 106 107 108 g On July 1, 2021 Timber Farms sold the tractor. Prepare the journal entry to record the sale under each depreciation method. i 109 Timber Farms sold the tractor for $28,000 110 111 ii Timber Farms sold the tractor for $20,000 112 113 114 115 If Timber sold the tractor for $28,000 116 117 Straight Line Method 118 119 120 121 122 123 C27 88 A B D E F G H K Prepare journal entry to record depreciation expense at the end of 2022, under each method. 89 90 91 Straight line method. 92 93 94 95 96 Units of activity method 97 98 99 100 101 102 103 Declining balance method 104 105 106 107 108 g On July 1, 2021 Timber Farms sold the tractor. Prepare the journal entry to record the sale under each depreciation method. i 109 Timber Farms sold the tractor for $28,000 110 111 ii Timber Farms sold the tractor for $20,000 112 113 114 115 If Timber sold the tractor for $28,000 116 117 Straight Line Method 118 119 120 121 122 123