A depreciation schedule for semi-trucks of Martinez Manufacturing Company was requested by your auditor soon...
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Accounting
A depreciation schedule for semi-trucks of Martinez Manufacturing Company was requested by your auditor soon after December 31, 2018, showing the additions, retirements, depreciation, and other data affecting the income of the company in the 4-year period 2015 to 2018, inclusive. The following data were ascertained.
The Accumulated Depreciation-Trucks account previously adjusted to January 1, 2015, and entered in the ledger, had a balance on that date of $36,542 (depreciation on the four trucks from the respective dates of purchase, based on a 5-year life, no salvage value). No charges had been made against the account before January 1, 2015. Transactions between January 1, 2015, and December 31, 2018, which were recorded in the ledger, are as follows.
Entries for straight-line depreciation had been made at the close of each year as follows: 2015, $25,410; 2016, $27,225; 2017, $30,311; 2018, $36,784.
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