Depreciation by Two Methods A Kubota tractor acquired on January 8 at a cost of $306,000 has an estimated useful life of ten years. Assuming that it will have no residual value. a. Determine the depreciation for each of the first two years by the straight-line method. First Year Second Year b. Determine the depreciation for each of the first two years by the double-declining-balance method. Do not round the double-declining balance rate. If required, round your final answer to the nearest dollar. First Year Second Year Depreciation by Units-of-activity Method A diesel-powered tractor with a cost of $171,100 and estimated residual value of $7,300 is expected to have a useful operating life of 63,000 hours. During April, the tractor was operated 200 hours. Determine the depreciation for the month. If required, carry out any division to two decimal places. Entries for Sale of Fixed Asset Equipment acquired on January 8 at a cost of $117,250, has an estimated useful life of 14 years, has an estimated residual value of $8,050, and is depreciated by the straight-line method. a. What was the book value of the equipment at December 31 the end of the fourth year? b. Assuming that the equipment was sold on April 1 of the fifth year for 77,540. 1. Journalize the entry to record depreciation for the three months until the sale date. Round your answers to the nerest whole dollar if required. 2. Journalize the entry to record the sale of the equipment. If an amount box does not require an entry, leave it blank. Do not round intermediate calculations. Depletion Entries Alaska Mining Co. acquired mineral rights for $9,792,000. The mineral deposit is estimated at 61,200,000 tons. During the current year, 9,200,000 tons were mined and sold. a. Determine the amount of depletion expense for the current year. Round the depletion rate to two decimals places. b. Journalize the adjusting entry on December 31 to recognize the depletion expense