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k Prior to adjustment at the end of the year, the balance in Trucks is $409,600 and the balance in Accumulated Depreciation-Trucks is $121,720.
k Prior to adjustment at the end of the year, the balance in Trucks is $409,600 and the balance in Accumulated Depreciation-Trucks is $121,720. Details of the subsidiary ledger are as follows: Estimated Estimated Accumulated Depreciation Miles Operated Truck Residual No. Cost Value Useful Life at Beginning During of Year Year 1 $86,000 $12,900 240,000 miles 36,000 miles 2 113,600 13,632 270,000 $22,720 27,000 3 95,000 13,300 219,000 $76,000 21,900 4 115,000 13,800 320,000 $23,000 38,400 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. Credit to Accumulated Depreciation Truck No. Rate per Mile (in cents) Miles Operated 1 36,000 2 27,000 21,900 $ 3 4 38,400 Total
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