Prior to adjustment at the end of the year, the balance in Trucks is $420,200 and the balance in Accumulated Depreciation-Trucks is $122,940. Details of the subsidiary ledger are as follows: Truck No. 1 2 3 4 Truck No. 1 2 3 4 Cost $83,000 117,200 92,500 127,500 Total Estimated Residual Value $12,450 14,064 12,950 15,300 a. Determine for each truck the depreciation rate per mile and the amount to be credited to the accumulated depreciation section of each subsidiary account for the miles operated during the current year. Keep in mind that the depreciation taken cannot reduce the book value of the truck below its residual value. Round the rate per mile to two decimal places. Enter all values as positive amounts Rate per Mile (in cents) Estimated Useful Life 200,000 miles 280,000 miles 202,000 miles 330,000 miles Miles Operated 30,000 28,000 20,200 39,600 Accumulated Depreciation at Beginning of Year $23,440 74,000 25,500 Credit to Accumulated Depreciation Miles Operated During Year 30,000 miles 28,000 miles 20,200 miles 39,600 miles b. Journalize the entry to record depreciation for the year. If an amount box does not require an entry, leave it blank.
Prion to adjustment at the end of the year, the balance in Thucks is $420,200 and the balance in Accimulated Depreciation-Trucks is $122,940. Details of the subsidiary a. Determine for each truck the depreciation rate per mile and the amount to be credited to the accumulated depreclation section of each subsidiary account for the miles operated during the current vear, Keep in mind that the depreciation taken cannot reduce the book value of the truck below its resadual value. Round the rate pe mile to two dectmal pisces, enter att vitues as posttive ambints. b. Journalize the entry to record depreciation for the vear, If an amount box does not require an entry, leave it blanic
