A contractor purchased a tractor at a cost of 135000 and, Accounting Basics

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A contractor purchased a tractor at a cost of 135000 and

Question: A contractor purchased a tractor at a cost of $135,000 and plans to use it for 5 years which time she estimates the salvage value of the tractor will be $65,000. Using the depreciation methods shown below, what is the book value of the tractor at the end of each of the 5 years? solve using all three of these methods

a) Straight-Line Method

b) Sum-of-the-year Method

c) 150% Declining Method

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Accounting Basics: A contractor purchased a tractor at a cost of 135000 and

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Accounting Basics: A contractor purchased a tractor at a cost of 135000 and

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