Mitchell fishing boat was purchaced on January 1st at a cost of $52,500. Mitchell expectsto use the boat for ten years and that it will have a residual value of $6,500. Determine annual depreciation assuming the straight-line depreciation method is used.

Acct121 Spr19 Principles of Accounting I (Financial) Christia Homework: Chapter 03 Homework b Score: 0.44 of 2 pts 1 of 3 (1 complete) Hw & P3-34A (similar to) Mitchell Fishing Charters has collected the following data for the December 31 adjusting entries (Click the icon to view the data.) Read the requirements d. Mitcheil's fishing boat was purchased on January 1 at a cost of $52.500. Mitchiell expects to use the boat for ten years and that t will have a residual value of $6.500. Determine depreciation assuming the straight-line depreciation method is used Date Accounts and Explanation Debit Credit (d) Dec. 31 Choose from any list or enter any number in the input fields and then click Check Answer Chec Clear All emaining Previous cj Links ^