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Prior to adjustment at the end of the year, the balance in Trucks is $296,900...

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Accounting

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Prior to adjustment at the end of the year, the balance in Trucks is $296,900 and the balance in Accumulated Depreciation-Trucis is $.99,740, Detais of then subsifiary. ledser are on fellawt: a. Determine for each truck the depreciation rate per mile and the amount to be credited to the accumulated depreciation sectian of each wibsidiary acteint 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. r Chea Mr wor Asset minus fesidual value equals depreciable cost. Units-of-production allocates the cost of the asset equally over the units produced. The deprecintion rate stays constant, no matter how many miles are drvien each period: Keep in mind that the depreciation taken cannot reduce the book value of the truck below its residual value. Journalize the entry on December 31 to record depreciation for the vear. If an amount box does not require an entry, leave it blank. Fution: Totionwirs Remember that the company joumalues the depreciation of the trucla ar one asset

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