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Ingot Land Company owns four trucks dedicated primarily to its landfill business. The company's accounting record indicates the following, using the units-of-production method: B Description
Ingot Land Company owns four trucks dedicated primarily to its landfill business. The company's accounting record indicates the following, using the units-of-production method: B Description Purchase cost Salvage value Useful life (miles) Accumulated depreciation as year begins Miles driven during year A $50,000 $5,000 200,000 $25,000 $2,500 120,000 $1,500 $18,500 $1,500 100,000 $8.925 D $35,600 $3,500 200,000 $24,075 $0 25,000 12,000 15,000 20,000 determine the amount of depreciation for each truck during the year
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