Prior to adjustment at the end of the year, the balance in Trucks is $250,900 and the
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Prior to adjustment at the end of the year, the balance in Trucks is $250,900 and the balance in Accumulated Depreciation?Trucks is $88,200. Details of the subsidiary ledger are as follows:
(a) Determine the depreciation rates per mile and the amount to be credited to the accumulated depreciation section of each of the subsidiary accounts for the miles operated during the current year.(b) Journalize the entry to record depreciation for theyear.
Transcribed Image Text:
Miles Operated Ďuring Year Accumulated Depreciation at Beginning of Year Estimated Residual Value Estimated Useful Life Truck No. Cost 23,000 miles 25,000 36,000 40,000 $ 6,500 9,900 3,000 13,000 150,000 miles $50,000 72,900 $60,000 300,000 200,000 90,000 20,150
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Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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