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

  Compute equivalent units assigned total costs in assembly

Conversion costs are incurred evenly throughout the process. The Assembly Department had no work in process on March 31. In mid-April, Sue Electronics started production on 100,000 CD players. Of this number, 76,100 CD players were assembled durin..

  Development of relevant cash flows

Development of relevant cash flows - Cost estimating and financial analysis

  Compute the order point

The material is expected to cost $5 per unit. Namath anticipates it will cost $50 to place each order. The annual carrying cost is $0.10 per unit.

  What will be the carrying amount of the bonds

The Acme Company issued 5%, 10-year bonds payable at 90 on December 31, 2010. At December 31, 2012, Acme reported the bonds payable as follows.

  Questionon 1st january 2012 john doeby enterprises acquired

questionon 1st january 2012 john doeby enterprises acquired a 55 interest in bmi inc. bmi. doeby paid for the

  Maintain a balance at the end of each quarter

Selling and administrative expenses are projected to be $45,117; this figure includes $1,117 in depreciation expense on the office equipment. All costs and expenses will be paid in cash. Nemani wants to maintain a balance of at least $25,000 cash ..

  Perform a vertical analysis with sales as the base

Vertical analysis - Use the income statement from Color Copy to perform a vertical analysis with sales as the base.

  Evaluate the cut off score for gaining admission

Evaluate the cut off score for gaining admission and evaluate the probability that they have a mean height greater than 63.0 in.

  Determine the book value at the end

Determine the amount of the annual depreciation and determine the book value at the end of the fourth year of use.

  Was overhead underapplied or overapplied

The accounting period has just ended and you-in the accounting department-are preparing journal entries for the transactions that took place during the month. Make sure to include entries that affect the COGS account.

  Equity method - prepare the entries for bassett company

Prepare the entries for Bassett Company for the purchase of the stock, share of Nassim income, and dividends received from Nassim Company.

  Record the cost of the land and new building

On February 2007, Reflection Corporation purchased a parcel of land as a factory site for $50,000 - Evaluate reflection should record the cost of the land and new building

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