Prior to adjustment at the end of the year, the amount reported for Trucks is ($150,000,) and

Question:

Prior to adjustment at the end of the year, the amount reported for Trucks is

$$150,000,$ and the amount reported for Accumulated Depreciation is $$63,800$.

Details of the subsidiary ledger are as follows:

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Determine the depreciation rates per mile and the amount to increase the accumulated depreciation section of each of the subsidiary accounts for the miles operated during the current year.

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Survey Of Accounting

ISBN: 9780538870856

1st Edition

Authors: Carl S. Warren

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Question Posted: May 16, 2024 06:01 AM

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Prior to adjustment at the end of the year, the amount reported for Trucks is ($150,000,) and

Question:

Accumulated Estimated Estimated Depreciation Miles Operated Truck Residual Useful at Beginning During No. Cost Value Life of Year Year 1 $65,000 $5,000 250,000 miles $22,500 18,000 miles 2 38,600 3,600 200,000 32,000 20,000 3 28,000 3,000 100,000 9,300 34,500 4 18,400 1,000 120,000 12,000

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