Question
Charles's, a popular pizza hang-out, has a thriving delivery business. Charles's has a fleet of three delivery automobiles. Prior to making the entry for this
Charles's, a popular pizza hang-out, has a thriving delivery business. Charles's has a fleet of three delivery automobiles. Prior to making the entry for this year's depreciation expense, the subsidiary ledger for the fleet is as follows: Car 1 Cost $40,625 Salvage Value Estimated Life in Miles Accumulated Depr.-Beg. of the Year Miles Operated During Year $5,750 112,500 $2,415 23,000 23 28,900 4,600 90,000 1,890 25,300 27,025 2,875 105,000 2,300 21,800 Determine the depreciation rates per mile for each car. (Round answers to 2 decimal places, e.g. 15.25.) Car 1 $ per mile Car 2 $ per mile Car 3 $ per mile List of Accounts Determine the Depreciation Expense for each car for the current year. Depreciation Expense Car 1 $ Car 2 $ Car 3 $
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