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Prior to adjustment at the end of the year, the balance in Trucks is $297,320 and the balance in Accumulated Depreciation-Trucks is $102,970. Details of

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Prior to adjustment at the end of the year, the balance in Trucks is $297,320 and the balance in Accumulated Depreciation-Trucks is $102,970. Details of the subsidiary ledger are as follows: Estimated Accumulated Depreciation at Beginning of Year Truck No. Cost Residual Value Useful Life Miles Operated During Year 21,500 1 $78,350 $14,600 255,000 miles 2 56,250 6,100 295,000 miles $14,690 34,300 3 76,820 12.999 12.500 201,000 miles 63,030 8,400 4 85,900 23,500 240,000 miles 25,250 22,300 Required: 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 milos operated during the current year B. Joumalize the entry to record depreciation for the year. Refer to the Chart of Accounts for exact wording of account titles. 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 Sear, Truck No. Rate per Mile Miles Operated Credit to Accumulated Depreciation 1 $ 21.500 2 34,300 3 8,400 4 22.300 Total

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