On April 8, 2010, Dreamland Park purchased a ferris wheel for $300,000. The estimated life of the ferris wheel was 10 years, with an estimated residual value of $60,000. The service life in terms of output is estimated at 30,000 hours of operation.
Compute the depreciation on this ferris wheel in 2010 and 2011 using the following methods.

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Question

On April 8, 2010, Dreamland Park purchased a ferris wheel for $300,000. The estimated life of the ferris wheel was 10 years, with an estimated residual value of $60,000. The service life in terms of output is estimated at 30,000 hours of operation.
Compute the depreciation on this ferris wheel in 2010 and 2011 using the following methods.

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Quizplus · Accepted Answer

The Answer of  On April 8, 2010, Dreamland Park purchased a ferris wheel for $300,000. The estimated life of the ferris wheel was 10 years, with an estimated residual value of $60,000. The service life in terms of output is estimated at 30,000 hours of operation.
Compute the depreciation on this ferris wheel in 2010 and 2011 using the following methods.

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On April 8, 2010, Dreamland Park Purchased a Ferris Wheel