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Jack's, a popular pizza hang-out, has a thriving delivery business. Jack's has a fleet of three delivery automobiles. Prior to making the entry for this
Jack's, a popular pizza hang-out, has a thriving delivery business. Jack'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: Salvage Value Estimated Life in Miles Accumulated Depr.--Beg. of the Year Miles Operated During Year Car Cost 75.000 $2.520 20,000 1 $21,000 $3,000 2340 22.000 2 18,000 60.000 2,400 70.000 2.000 19.000 3 23,500 2.500 Determine the depreciation rates per mile for each car. (Round answers to 2 decimal places, e.3. 15.25.) Car 1 $ per mile Car 2 $ per mile Car 3 $ per mile Determine the depreciation expense for each car for the current year Depreciation Expense Car 1 $ Car 2 $ Car 3 $
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