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?

Expert Solution

ekkarill92 answered 1 year ago

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