Depreciation by units-of-activity method Instructions Chart of Accounts First Question Journal Instructions First Question Prior to adjustment at the end of the year, the balance in Trucks is $305,554 and the balance in Accumulated Depreciation - Trucks is $100,220. 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. Round the rate per mile to two decimal places and credit to accumulated depreciation to the nearest dollar. Estimated Accumulated Depreciation at Beginning of Year Miles Operated During Year Truck No. Cost Residual Value Useful Life 1 $82,971 $14,850 252,300 miles 20,200 miles Truck No. Rate per Mile Miles Operated Credit to Accumulated Depreciation 2 59,412 6,150 295,900 miles $13,950 32,900 miles 1 $ 20,200 $ 3 76,486 13,990 201,600 miles 61,060 7,700 miles 2 4 86,685 22,830 236,500 miles 25,210 22,100 miles 32,900 3 7,700 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. Round the rate per mile to two decimal places and credit to accumulated depreciation 4 22,100 to the nearest dollar. Total $ B. Journalize the entry on Dec. 31 to record depreciation for the year. Refer to the Chart of Accounts for exact wording of account titles. Journal B. Journalize the entry on Dec. 31 to record depreciation for the year. Refer to the Chart of Accounts for exact wording of account titles. PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 Adjusting Entries 2 Dec. 31 Depreciation Expense-Trucks 3 Accumulated Depreciation-Trucks