Question

In: Accounting

Prior to adjustment at the end of the year, the balance in Trucks is $301,820 and...

Prior to adjustment at the end of the year, the balance in Trucks is $301,820 and the balance in Accumulated Depreciation—Trucks is $102,720. Details of the subsidiary ledger are as follows:

Estimated

Accumulated Depreciation at Miles Operated
Truck No. Cost Residual Value Useful Life Beginning of Year During Year
1 $80,950 $14,800 245,000 miles 20,200
2 59,800 5,800 300,000 miles $14,730 32,600
3 75,620 13,000 202,000 miles 62,060 7,700
4 85,450 22,000 235,000 miles 25,930

22,300

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.

Truck No. Rate per Mile Miles Operated Credit to Accumulated Depreciation
1 .27 20,200 5454
2 .18 32,600 5868
3 .31 7,700 ?
4 .27 22,300 6021
Total ?

.31 x 7700 = 2387, but that is not the answer. How do I find it?

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