Crestview Estates Purchased a Tractor on January 1,2012,for $65,000

question 13

Multiple Choice

Crestview Estates purchased a tractor on January 1,2012,for $65,000.The tractor's useful life is estimated to be 30,000 miles and has a residual value of $5,000.If Crestview used the tractor 5,000 miles in 2012 and 3,000 miles in 2013,what is the balance for accumulated depreciation at the end of 2013 using the activity method?

• A)$38,000.
• B)$6,000.
• C)$16,000.
• D)$10,000.

Analyze the military strategies and outcomes of the early stages of the Revolutionary War.

Comprehend the reasons behind the replacement of the Articles of Confederation.

Recognize the contributions of foreign individuals and nations to the American military efforts.

Evaluate the economic consequences of the American Revolution on the new nation.

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Definitions:

Purchase

The act of buying goods, services, or property in exchange for money or other consideration.

Sale

The passing of title (evidence of ownership rights) from a seller to a buyer for a price.

Enforceable Contract

A legally binding agreement that can be upheld and enforced in a court of law.

Oral Contract

A contract wherein terms are agreed upon through spoken communication, which can be legally binding if it meets certain criteria, despite the lack of physical documentation.