Plant and equipment to be depreciated are composed of the

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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?

Reference no: EM13604161

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