Determine the depreciation rates per mile

Assignment Help Cost Accounting
Reference no: EM13547734

Depreciation by units-of-output method

Prior to adjustment at the end of the year, the balance in Trucks is $296,900 and the balance in Accumulated Depreciation-Trucks is $99,740. 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

$80,000

$15,000

250,000 miles

-

21,000 miles

2

54,000

6,000

300,000

$14,400

33,500

3

72,900

10,900

200,000

60,140

8,000

4

90,000

22,800

240,000

25,200

22,500

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.

Reference no: EM13547734

Questions Cloud

Activity description predecessor a m b : Activity Description Predecessor a m b
How many bottles should be ordered for the party : How many bottles should be ordered for the party and what will be the unit cost of the wine? The total cost?
Compute the amount of sulfuric acid in milligrams : A sulfuric acid solution is added to scale-forming water to convert calcium carbonate to calcium bicarbonate. Write the chemical equation for this reaction, and calculate the amount of sulfuric acid in milligrams per liter to neutralize 20 mg/l of..
Find how long does it take to reach the bottom of the ramp : A cylinder rolls down a ramp of height h = 1.1 m with ? = 36°, starting from rest at the top. How long does it take to reach the bottom of the ramp
Determine the depreciation rates per mile : 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.
Evaluate the normal force exerted by the pivot : A woman of mass m = 50.9 kg sits on the left end of a seesaw-a plank of length L = 3.99 m, Find the normal force exerted by the pivot if the plank has a mass of mpl = 13.4 kg
Explain ocean depth at which the water becomes supercritical : Determine the ocean depth at which the water becomes supercritical. Assume the density of the water is that of fresh water at 20C.
Setup cost overtime setup cost : Setup Cost Overtime Setup Cost
Identify the reconciling items : An addition to the cash balance according to the bank statement - Identify the reconciling items

Reviews

Write a Review

Cost Accounting Questions & Answers

  Cost accounting assignment

Evaluate Method of measuring costs associated with production, budgeting process, normal job-order costing system , master budget, cycle time.

  Prepare the journal entries

Prepare the journal entries to record the bond issue and interest expense.

  Advise as to the liability of all the parties

Write a report on given case study and Advise as to the liability of ALL the parties both under common law and the Corporations Law.

  Prepare revenues budget

Prepare Revenues budget and Production budget in units

  Effect of exchange rate changes on cash and cash

Effect of exchange rate changes on cash and cash

  Corporate governance

You are to reflect on how this case of China Sky relates to what the arguments for and against allowing audit firm partners and/or employees to join audit committees.

  Cost-benefit analysis

A cost-benefit analysis of electronic medical records in primary care

  Non-annual interest rates and annuities

Theory of Interest- Non-annual interest rates and annuities

  Job costing in service organizations

How is job costing in service organizations different from job costing in manufacturing environments?

  Accounting for bad debt expense

Accounting for bad debt expense

  Accounting and partnership problems

Accounting and Partnership problems

  Development of relevant cash flows

Development of relevant cash flows - Cost estimating and financial analysis

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd