December 31, 20XX, according to the Trial Balance, the Equipment account has a balance of 37,700.00. Adjustment data reveals that Depreciation Expense is 3,500.00.  Journalize the adjusting entry.

The Annual Depreciation Expense be using straight-line depreciation will be $6250, the accounts would be used in the adjusting entry for a full year of depreciation will be Debit - Depreciation Expense, Truck</> Credit - Accumulated Depreciation, Truck. 13) Under the Fixed assets section of the balance sheet, what number would we put in the "Accumulated Depreciation, Truck" section for Year # 4 if depreciation is calculated ANNUALLY (assume Jan 1st, 2019 to Dec 31st, 2019 is Year #1).

Your staff person has provided you with the following journal entry for January 20x1 depreciation. The monthly deprecation is supposed to be $100.00. What is wrong with this entry?

Depreciation by units-of-activity Method Prior to adjustment at the end of the year, the balance in Trucks is $408,000 and the balance in Accumulated Depreciation—Trucks is $126,200. Details of the subsidiary ledger are as follows: TruckNo. Cost EstimatedResidualValue EstimatedUsefulLife AccumulatedDepreciationat Beginningof Year MilesOperatedDuringYear 1 $86,000   $12,900   200,000 miles —       30,000 miles 2 119,000   14,280   360,000   $23,800       36,000   3 103,000   14,420   212,000   $82,400       21,200   4 100,000   12,000   260,000   $20,000       31,200   a.  Determine for each truck the depreciation rate per mile and the amount to be credited to the accumulated depreciation section of each subsidiary account for the miles operated during the current year. Keep in mind that the depreciation taken cannot reduce the book value of the truck below its residual value. Round the rate per mile to two decimal places. Enter all values as positive amounts. Truck No.…