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What is the amount of depreciation for the first full year

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Question 1 - Equipment with a cost of $220,000 has an estimated residual value of $30,000 and an estimated life of 10 years or 19,000 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during 3 which the equipment was used 2,100 hours?

Question 2 - The Weber Company purchased a mining site for $1,750,000 on July 1. The company expects to mine ore for the next 10 years and anticipates that a total of 400,000 tons will be recovered. The estimated residual value of the property is 37 4. $150,000. During the first year, the company extracted 6,500 tons of ore. The depletion expense is?

Reference no: EM133160292

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