Maurice Tutor

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Teaching Since: May 2017
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 23 Jul 2017 My Price 6.00

Accumulated Depreciation

Prior to adjustment at the end of the year, the balance in Trucks is $225,900 and the balance in Accumulated Depreciation—Trucks is $87,010. Details of the subsidiary ledger are as follows:

 

 

 

 

Accumulated

Miles

 

 

Estimated

Estimated

Depreciation

Operated

Truck

 

Residual

Useful

at Beginning

During

No.

Cost

Value

Life

of Year

Year

1

$75,000

$12,000

150,000 miles

$19,110

36,000 miles

2

72,900

9,900

300,000

59,850

18,000

3

38,000

3,000

200,000

8,050

36,000

4

40,000

4,000

120,000

—

16,000

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 year.

b. Journalize the entry to record depreciation for the year.

Answers

(5)
Status NEW Posted 23 Jul 2017 10:07 PM My Price 6.00

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