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Calculate depreciation expense for the fiscal years

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Reference no: EM132486049

Point 1: West Coast Tours runs boat tours along the west coast of British Columbia. On March 5, 2020, it purchased, with cash, a cruising boat for $948,000, having a useful life of 10 years or 13,920 hours, with a residual value of $252,000. The company's year-end is December 31.

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Question 1: Calculate depreciation expense for the fiscal years 2020, 2021, and 2022 by completing a schedule. (Note: Depreciation is calculated to the nearest month. Assume actual hours of service were: 2020, 920; 2021, 1,980; 2022, 1,735.)

 

Reference no: EM132486049

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