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EXY Straight Line Depreciation Obj. 2 A refrigerator used by a wholesale warehouse has a cost of $82,000, an estimated residual value of $6,200, and
EXY Straight Line Depreciation Obj. 2 A refrigerator used by a wholesale warehouse has a cost of $82,000, an estimated residual value of $6,200, and an estimated useful life of 8 years. What is the amount of the annual depreciation computed by the straight-line method? . EX 97 Depreciation by Units-of-Activity Method Obj. 2 A diesel-powered tractor with a cost of $120,000 and an estimated residual value of $16,400 is expected to have a useful operating life of 28,000 hours. During April, the tractor was operated 150 hours. Determine the depreciation for the month. EX 9-18 Disposal of Fixed Asset Obj. 3 Equipment acquired on January 6 at a cost of $375,000 has an estimated useful life of 20 years and an estimated residual value of $25,000. 1 What was the annual amount of depreciation for Years 1-3 using the straight-line method of depreciation? 2. What was the book value of the equipment on January 1 of Year 4? Answer Check Figure: $322,500 3. Assuming that the equipment was sold on January 3 of Year 4 for $300,000 journalize the entry to record the sale. 4. Assuming that the equipment had been sold on January 3 of Year 4 for $325.000 Instead of $300.000, Journalize the entry to record the sale. Focus
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