Reference no: EM13604161

Plant and equipment to be depreciated are composed of the following: Building cost $306,000 25 years salvage value $20000-sum-of-the-years digits truck No.1 cost $28000 60000 miles salvage value 3100- miles driven truck no. 2 cost 33000 60000 miles salvage value $4200-miles driven lift no 2 cost 4500 10 years salvage value $500 straight line lift no. 3 $ cost 5000 10 years salvage value $500- straight line office equipment-Computer cost 6100 4 years salvage value 1300 double declining balance truck no. 1 has been driven 45000 miles prior to 1/1/12 and truck no.2 has been driven 30500 miles prior to 1/1/12. During 2012 truck no.1 was driven 12000 miles and truck no. 2 was driven 13000 miles. Remember that the rockfors company takes a half-year depreciation in the year of acqusition and a half year in the year of sale. What does the depreciation look like for each of these and what are the adjusting entries that are required in the general ledger?