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. Truck No. Rate per Mile Miles Operated Credit to Accumulated Depreciation 1 $ 20,200 $ 2 32,900 3 7,700 4 22,100 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. Question not attempted. PAGE 1 JOURNAL Score: 0/25 ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 Adjusting Entries 2 3 ACCOUNTS General Ledger ASSETS 110 Cash REVENUE 410 Sales 610 Interest Revenue 620 Gain on Sale of Trucks 621 Gain on Sale of Equipment 111 Petty Cash 112 Accounts Receivable 114 Interest Receivable 115 Notes Receivable 116 Merchandise Inventory 117 Supplies 119 Prepaid Insurance 120 Land EXPENSES 510 Cost of Merchandise Sold 520 Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Trucks 123 Trucks 124 Accumulated Depreciation-Trucks 523 Delivery Expense 116 Merchandise Inventory 117 Supplies 119 Prepaid Insurance 120 Land 123 Trucks 124 Accumulated Depreciation-Trucks 125 Equipment 126 Accumulated Depreciation-Equipment 130 Mineral Rights 131 Accumulated Depletion 132 Goodwill EXPENSES 510 Cost of Merchandise Sold 520 Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Trucks 523 Delivery Expense 524 Repairs and Maintenance Expense 529 Selling Expenses 531 Rent Expense 532 Depreciation Expense-Equipment 533 Depletion Expense 534 Amortization Expense-Patents 535 Insurance Expense 133 Patents 536 Supplies Expense LIABILITIES 210 Accounts Payable 539 Miscellaneous Expense Ice Expense LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable 536 Supplies Expense 539 Miscellaneous Expense 710 Interest Expense 720 Loss on Sale of Trucks 721 Loss on Sale of Equipment EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends 313 Income Summary 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: 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 2 59,412 6,150 295,900 miles $13,950 32,900 miles 3 76,486 13,990 201,600 miles 61,060 7,700 miles 4 86,685 22,830 236,500 miles 25,210 22,100 miles 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 on Dec. 31 to record depreciation for the year. Refer to the Chart of Accounts for exact wording of account titles