Question
Given Data: Cost of boat $828,000 Expected useful life (years) 10 Expected number of hours to be used 13,250 Estimated residual value $192,000 Date purchased
Given Data: Cost of boat $828,000 Expected useful life (years) 10 Expected number of hours to be used 13,250 Estimated residual value $192,000 Date purchased March 5, 2020 Depreciation is calculated using the half-year convention Year Actual Hours Used 2020 720 2021 1,780 2022 1,535
THE TOTAL
| Depreciation Method | |||
| Year | Straight-Line | Double-Declining-Balance | Units-of-Production |
| 2020 | $ 31,800 | $ 82,800 | $ 17,280 |
| 2021 | 63,600 | 149,040 | 85,440 |
| 2022 | 63,600 | 119,232 | 73,680 |
| Totals | $ -0- | $ -0- | $ -0- |
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Intermediate accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
7th edition
978-0077614041, 9780077446475, 77614046, 007744647X, 77647092, 978-0077647094
