A business involved with long-distance transport bought a new truck designed for haulage between all capital cities

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A business involved with long-distance transport bought a new truck designed for haulage between all capital cities throughout the country. The motor vehicle was purchased on credit on 31 July 2021 $819 500

($745 000 + $74 500 GST) and it was expected that it would be sold for its residual value of $49 500

($45 000 + $4500 GST) after travelling for 2 million kilometres.

For the 11 months ended 30 June 2022, the truck travelled 145 000 kilometres.

For the year ended 30 June 2023, the truck travelled 185 000 kilometres.

For the year ended 30 June 2024, the truck travelled 180 000 kilometres.

Prepare a units of use depreciation worksheet to 30 June 2024, as well as the extract general ledger accounts for the asset and depreciation accounts to the same date.

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