Prior to adjustment at the end of the year, the balance in Trucks is $300,900 and the balance in Accumulated Depreciation-Trucks is $88,200. Details of the subsidiaryledger are as follows:Truck No.CostEstimatedResidual ValueEstimated UsefulAccumulatedDepreciation atMiles OperatedLife (Miles)Beginning of YearDuring Year1$100,000$13,000300,00030,000272,9009,900300,000$60,00025,000338,0003,000200,0008,05045,000490,00013,000200,00020,15040,000Required:a. Based on the units-of-activity method, determine the depreciation rates per mile and the amount to be credited to the accumulated depreciation section of each of thesubsidiary accounts for the miles operated during the current year. Round rates to three decimal places.Truck No. Rate per Mile Miles Operated Depreciation1$30,000225,000345,000440,000Total

Name: Prior to adjustment at the end of the year, the balance in Trucks is
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Description: Prior to adjustment at the end of the year, the balance in Trucks is $300,900 and the balance in Accumulated Depreciation-Trucks is $88,200. Details of the subsidiaryledger are as follows:Truck No.CostEstimatedResidual ValueEstimated UsefulAccumulat

Answer:- Depreciation expense is basically the expense which is charged on the non-current assets of…

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Prior to adjustment at the end of the year, the balance in Trucks is $300,900 and the balance in Accumulated Depreciation-Trucks is $88,200. Details of the subsidiary ledger are as follows: Truck No. Cost Estimated Residual Value Estimated Useful Accumulated Depreciation at Miles Operated Life (Miles) Beginning of Year During Year 1 $100,000 $13,000 300,000 30,000 2 72,900 9,900 300,000 $60,000 25,000 3 38,000 3,000 200,000 8,050 45,000 90,000 13,000 200,000 20,150 40,000 Required: a. Based on the units-of-activity method, 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 rates to three decimal places. Truck No. Rate per Mile Miles Operated Depreciation 1 30,000 2 25,000 45,000 4 40,000 Total

Prior to adjustment at the end of the year, the balance in Trucks is $300,900 and the balance in Accumulated Depreciation-Trucks is $88,200. Details of the subsidiary ledger are as follows: Truck No. Cost Estimated Residual Value Estimated Useful Accumulated Depreciation at Miles Operated Life (Miles) Beginning of Year During Year 1 $100,000 $13,000 300,000 30,000 2 72,900 9,900 300,000 $60,000 25,000 3 38,000 3,000 200,000 8,050 45,000 90,000 13,000 200,000 20,150 40,000 Required: a. Based on the units-of-activity method, 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 rates to three decimal places. Truck No. Rate per Mile Miles Operated Depreciation 1 30,000 2 25,000 45,000 4 40,000 Total

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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