Truck Estimated Residual Estimated Prior to adjustment at the end of the year, the balance in Trucks is $413,200 and the balance in Accumulated Depreciation-Trucks is $120, Accumulated Depreciation Miles Operated No. Cost Value 1 $80,000 $12,000 Useful Life 220,000 miles at Beginning of Year During Year 33,000 miles 2 112,700 13,524 3 90,500 4 130,000 12,670 15,600 260,000 miles 202,000 miles 250,000 miles $22,540 26,000 miles 72,400 20,200 miles 26,000 30,000 miles a. Determine the depreciation rates per mile and the amount to be credited to the accumulated depreciation section of each of the subsidiam depreciation taken cannot reduce the book value of the truck below its residual value. Round the rate per mile to two decimal places. E Rate per Mile Credit to Accumulated Truck No. (in cents) Miles Operated Depreciation 1 33,000 2 26,000 3 20,200 4 30,000 Total Feedback D Check My Work Units production allocates the cost of the asset equally over the units produced. The depreciatio

Truck Estimated Residual Estimated Prior to adjustment at the end of the year, the balance in Trucks is $413,200 and the balance in Accumulated Depreciation-Trucks is $120, Accumulated Depreciation Miles Operated No. Cost Value 1 $80,000 $12,000 Useful Life 220,000 miles at Beginning of Year During Year 33,000 miles 2 112,700 13,524 3 90,500 4 130,000 12,670 15,600 260,000 miles 202,000 miles 250,000 miles $22,540 26,000 miles 72,400 20,200 miles 26,000 30,000 miles a. Determine the depreciation rates per mile and the amount to be credited to the accumulated depreciation section of each of the subsidiam depreciation taken cannot reduce the book value of the truck below its residual value. Round the rate per mile to two decimal places. E Rate per Mile Credit to Accumulated Truck No. (in cents) Miles Operated Depreciation 1 33,000 2 26,000 3 20,200 4 30,000 Total Feedback D Check My Work Units production allocates the cost of the asset equally over the units produced. The depreciatio

Name: None TruckEstimatedResidualEstimatedPrior to adjustment at the end of
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Description: None TruckEstimatedResidualEstimatedPrior to adjustment at the end of the year, the balance in Trucks is $413,200 and the balance in Accumulated Depreciation-Trucks is $120,AccumulatedDepreciationMilesOperatedNo.CostValue1$80,000$12,000UsefulLife220,

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter7: Fixed Assets, Natural Resources, And Intangible Assets

Section: Chapter Questions

Problem 7.3.3MBA

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Depreciation by units-of-activity Method Prior to adjustment at the end of the year, the balance in Trucks is $385,500 and the balance in Accumulated Depreciation—Trucks is $115,400. Details of the subsidiary ledger are as follows: TruckNo. Cost EstimatedResidualValue EstimatedUsefulLife AccumulatedDepreciationat Beginningof Year MilesOperatedDuringYear 1 $78,500 $11,775 240,000 miles —     36,000 miles 2 114,500 13,740 320,000 $22,900     32,000 3 90,000 12,600 213,000 $72,000     21,300 4 102,500 12,300 370,000 $20,500     44,400 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. Truck…
Prior to adjustment at the end of the year, the balance in Trucks is $437,500 and the balance in Accumulated Depreciation—Trucks is $133,000. Details of the subsidiary ledger are as follows: TruckNo. Cost EstimatedResidualValue EstimatedUsefulLife AccumulatedDepreciationat Beginningof Year MilesOperatedDuringYear 1 $84,500 $12,675     210,000 miles —         31,500 miles 2 119,000 14,280     330,000 miles $23,800         33,000 miles 3 104,000 14,560     219,000 miles 83,200         21,900 miles 4 130,000 15,600     350,000 miles 26,000         42,000 miles Question Content Area 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…
Prior to adjustment at the end of the year, the balance in Trucks is $437,500 and the balance in Accumulated Depreciation—Trucks is $133,000. Details of the subsidiary ledger are as follows: TruckNo. Cost EstimatedResidualValue EstimatedUsefulLife AccumulatedDepreciationat Beginningof Year MilesOperatedDuringYear 1 $84,500 $12,675     210,000 miles —         31,500 miles 2 119,000 14,280     330,000 miles $23,800         33,000 miles 3 104,000 14,560     219,000 miles 83,200         21,900 miles 4 130,000 15,600     350,000 miles 26,000         42,000 miles Question Content Area 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…
Prior to adjustment at the end of the year, the balance in Trucks is $407,000 and the balance in Accumulated Depreciation—Trucks is $120,300. Details of the subsidiary ledger are as follows: TruckNo. Cost EstimatedResidualValue EstimatedUsefulLife AccumulatedDepreciationat Beginningof Year MilesOperatedDuringYear 1 $78,500 $11,775 200,000 miles —     30,000 miles 2 110,000 13,200 350,000 $22,000     35,000 3 91,000 12,740 210,000 $72,800     21,000 4 127,500 15,300 340,000 $25,500     40,800 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. Truck No. Rate per Mile(in cents)…
Depreciation by units-of-activity Method Prior to adjustment at the end of the year, the balance in Trucks is $404,300 and the balance in Accumulated Depreciation—Trucks is $118,560. Details of the subsidiary ledger are as follows: TruckNo. Cost EstimatedResidualValue EstimatedUsefulLife AccumulatedDepreciationat Beginningof Year MilesOperatedDuringYear 1 $84,500 $12,675 230,000 miles —     34,500 miles 2 116,300 13,956 320,000 $23,260     32,000 3 91,000 12,740 200,000 $72,800     20,000 4 112,500 13,500 350,000 $22,500     42,000 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.…
Depreciation by Units-of-activity Method Prior to adjustment at the end of the year, the balance in Trucks is $426,700 and the balance in Accumulated Depreciation—Trucks is $132,940. Details of the subsidiary ledger are as follows: TruckNo. Cost EstimatedResidualValue EstimatedUsefulLife AccumulatedDepreciationat Beginningof Year MilesOperatedDuringYear 1 $77,000 $11,550 200,000 miles —     30,000 miles 2 117,200 14,064 370,000 $23,440     37,000 3 105,000 14,700 202,000 84,000     20,200 4 127,500 15,300 240,000 25,500     28,800 Question Content Area 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. Truck No. Rate per…
Prior to adjustment at the end of the year, the balance in Trucks is $403,000 and the balance in Accumulated Depreciation—Trucks is $120,400. Details of the subsidiary ledger are as follows: TruckNo. Cost EstimatedResidualValue EstimatedUsefulLife AccumulatedDepreciationat Beginningof Year MilesOperatedDuringYear 1 $84,500 $12,675 220,000 miles — 33,000 miles 2 119,000 14,280 360,000 $23,800 36,000 3 94,500 13,230 210,000 $75,600 21,000 4 105,000 12,600 340,000 $21,000 40,800 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. Truck No. Rate per Mile(in cents)…
Depreciation by Units-of-activity Method Prior to adjustment at the end of the year, the balance in Trucks is $296,900 and the balance in Accumulated Depreciation—Trucks is $99,740. Details of the subsidiary ledger are as follows: TruckNo. Cost EstimatedResidualValue EstimatedUsefulLife AccumulatedDepreciationat Beginningof Year MilesOperatedDuringYear 1 $80,000 $15,000 250,000 miles — 21,000 miles 2 54,000 6,000 300,000 $14,400 33,500 3 72,900 10,900 200,000 60,140 8,000 4 90,000 22,800 240,000 25,200 22,500 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. Truck No. Rate per Mile - in cents Miles Operated…
rior to adjustment at the end of the year, the balance in Trucks is $423,500 and the balance in Accumulated Depreciation-Trucks is $127,800. Details of the subsidiary ledger are as follows: Accumulated Miles Estimated Estimated Depreclation at Beginning Operated During Truck Residual Useful No. Cost Value Life of Year Year $86,000 $12,900 220,000 miles 33,000 miles 21 114,500 13,740 240,000 $22,900 24,000 3 100,500 14,070 216,000 80,400 21,600 4 122,500 14,700 410,000 24,500 49,200 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. Credit to Rate per Mile Miles Accumulated Truck No. (In cents) Operated Depreclation 1. S. 33,000 2. 24,000 21,600 4. 49,200 Total S. 3.
Prior to adjustment at the end of the year, the balance in Trucks is $405,400 and the balance in Accumulated Depreciation-Trucks is $120,280. 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 1 $84,500 $12,675 210,000 miles 31,500 miles 2 119,900 14,388 270,000 $23,980 27,000 3 93,500 13,090 207,000 $74,800 20,700 4 107,500 12,900 360,000 $21,500 43,200 a. Determine for each truck the depreciation rate per mile and the amount to be credited to the accumulated depreciation section of each subsidiary account for the miles operated during the current year. Keep in mind that the depreciation taken cannot reduce the book value of the truck below its residual value. Round the rate per mile to two decimal places. Enter all values as positive amounts. Credit to Rate per Mile Miles Accumulated Truck No. (in cents) Operated Depreciation 1 2$ 31,500 2 27,000 2$…
Depreciation by units-of-activity method Prior to adjustment at the end of the year, the balance in Trucks is $415,000 and the balance in Accumulated Depreciation-Trucks is $124,000. Details of the subsidiary ledger are as follows: Truck No. 1 2 3 4 Truck No. 1 2 3 Total Cost Feedback $77,000 119,000 94,000 125,000 Estimated Residual Value $11,550 14,280 13,160 15,000 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. 0.28 0.26 ✔ 0.37 ✔ Estimated Useful Life Rate per Mile (in cents) Miles Operated 0.28 ✓ 230,000 miles 400,000 miles 220,000 miles 390,000 miles 34,500 40,000 22,000 46,800 Accumulated Depreciation at Beginning of Year $23,800…
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 99,500 13,930 203,000 $79,600 20,300 127,500 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 accumutated 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…