Question
Prior to adjustment at the end of the year, the balance in Trucks is $300,900 and the balance in Accumulated Depreciation-Trucks is $88,200. Details of
Prior to adjustment at the end of the year, the balance in Trucks is $300,900 and the balance in Accumulated Depreciation-Trucks is $88,200. Details of the subsidiary ledger are as follows: Required: 1. 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 year. If required, round your answers to one decimal place. Truck No. Rate per Mile Miles Operated Depreciation 1 0 cents 30,000 $ 2 .1800 cents 25,000 $ 3 .050 cents 45,000 $ 4 .150 cents 40,000 $ Total $ Hide 2. Journalize the entry to record depreciation for the year. Cash Depreciation Expense-Trucks
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