Depreciation by units-of-activity Method Prior to adjustment at the end of the year, the balance in Trucks is $424,500 a

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Depreciation By Units Of Activity Method Prior To Adjustment At The End Of The Year The Balance In Trucks Is 424 500 A 1 (47.39 KiB) Viewed 33 times

Depreciation By Units Of Activity Method Prior To Adjustment At The End Of The Year The Balance In Trucks Is 424 500 A 2 (47.39 KiB) Viewed 33 times

Depreciation By Units Of Activity Method Prior To Adjustment At The End Of The Year The Balance In Trucks Is 424 500 A 3 (47.39 KiB) Viewed 33 times

Depreciation By Units Of Activity Method Prior To Adjustment At The End Of The Year The Balance In Trucks Is 424 500 A 4 (42.5 KiB) Viewed 33 times

Depreciation by units-of-activity Method Prior to adjustment at the end of the year, the balance in Trucks is $424,500 and the balance in Accumulated Depreciation-Trucks is $128,900. Details of the subsidiary ledger are as follows: Accumulated Miles Estimated Estimated Depreciation Operated Truck Residual Useful at Beginning During No. Cost Value Life of Year Year $78,500 $11.775 240,000 miles 36,000 miles 119,000 14,280 310,000 $23,800 31,000 3 99,500 13,930 203,000 $79,600 20,300 1 2 4 127,500 15,300 320,000 $25,500 38,400 a. Determine for each truck the depreciation rate per mile and the amount to be credited to the accumulated depreciation section of tach subsidiary account 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. Enter all values as positive amounts. Rate per Mile (in cents) Miles Operated Credit to Accumulated Depreciation Truck No. 36.000 31,000
203,000 $79,600 20,300 99,500 127,500 13,930 15,300 4 320,000 $25,500 38,400 a. Determine for each truck the depreciation rate per mile and the amount to be credited to the accumulated depreciation section of each subsidiary account 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. Enter all values as positive amounts. Credit to Rate per Mile Miles Accumulated Truck No. (in cents) Operated Depreciation 36,000 2 31,000 20,300 38,400 Total b. Journalize the entry to record depreciation for the year.