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Fields of Green, a Turf Farm, Purchased Equipment at the Beginning

Question 145

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Fields of Green, a turf farm, purchased equipment at the beginning of 2012 for $175,000. In addition, the company paid $6,000 for delivery of the equipment and $4,000 for set up charges. The equipment has an estimated residual value of $5,000 and an estimated life of 10 years or 50,000 hours of operation. The equipment was operated for 5,200 hours in 2012 and 5,000 hours in 2013.
Fields of Green, a turf farm, purchased equipment at the beginning of 2012 for $175,000. In addition, the company paid $6,000 for delivery of the equipment and $4,000 for set up charges. The equipment has an estimated residual value of $5,000 and an estimated life of 10 years or 50,000 hours of operation. The equipment was operated for 5,200 hours in 2012 and 5,000 hours in 2013.

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