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    Date Particulars DR CR

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    Ryll Bedas
    The document contains accounting entries recording various business transactions including purchases of land, buildings, machinery, and other assets. Cash was used to purchase the assets and notes payable were taken out. Depreciation and discounts are also recorded. Costs such as legal fees, remodeling expenses, and construction costs are allocated to the assets.

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    © All Rights Reserved
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    Date Particulars DR CR

    Uploaded by

    Ryll Bedas
    35 views6 pages
    The document contains accounting entries recording various business transactions including purchases of land, buildings, machinery, and other assets. Cash was used to purchase the assets and notes payable were taken out. Depreciation and discounts are also recorded. Costs such as legal fees, remodeling expenses, and construction costs are allocated to the assets.

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    PPE sample solution

    Original Title

    PPE

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    The document contains accounting entries recording various business transactions including purchases of land, buildings, machinery, and other assets. Cash was used to purchase the assets and notes payable were taken out. Depreciation and discounts are also recorded. Costs such as legal fees, remodeling expenses, and construction costs are allocated to the assets.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    35 views6 pages

    Date Particulars DR CR

    Uploaded by

    Ryll Bedas
    The document contains accounting entries recording various business transactions including purchases of land, buildings, machinery, and other assets. Cash was used to purchase the assets and notes payable were taken out. Depreciation and discounts are also recorded. Costs such as legal fees, remodeling expenses, and construction costs are allocated to the assets.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 6

    DATE PARTICULARS Dr Cr

    A. Building ₱ 7,200,000.00
    Land ₱ 1,800,000.00
    Cash ₱ 9,000,000.00

    B. Machinery ₱ 7,000,000.00
    Accounts Payable ₱ 7,000,000.00
    *purchase of machinery

    Accounts Payable ₱ 700,000.00


    Cash ₱ 686,000.00
    Machinery ₱ 14,000.00

    Accounts Payable ₱ 700,000.00


    Purchase Discount Lost ₱ 14,000.00
    Cash ₱ 700,000.00
    Machinery ₱ 14,000.00

    C. Furnitures and Fixtures ₱ 1,176,000.00


    Accounts Payable ₱ 1,176,000.00

    Accounts Payable ₱ 1,176,000.00


    Cash ₱ 1,176,000.00

    Accounts Payable ₱ 1,176,000.00


    Purchase Discount Lost ₱ 24,000.00
    Cash ₱ 1,200,000.00

    D. Machinery ₱ 1,740,000.00
    Discount on Notes Payable ₱ 360,000.00
    Notes Payable ₱ 1,800,000.00
    Cash ₱ 300,000.00

    E. Machinery(2,100,000 - 210,000 ₱ 1,890,000.00


    Discount on Notes Payable
    ₱ 210,000.00
    (2,100,000 * .10)
    Cash ₱ 300,000.00
    Notes Payable ₱ 1,800,000.00
    DATE PARTICULAR Dr Cr
    A. Asset ₱ 1,000,000.00
    Share Capital(15,000*50) ₱ 750,000.00
    Share Premium ₱ 25,000.00

    B. Asset ₱ 2,400,000.00
    Bonds Payable ₱ 2,000,000.00
    Premium of Bonds payable ₱ 400,000.00

    C. New Equipment ₱ 265,000.00


    Old equipment ₱ 250,000.00
    Gain on Exchage ₱ 15,000.00

    D. Purchases ₱ 1,350,000.00
    Cash ₱ 1,080,000.00
    Notes Payable ₱ 270,000.00

    E. New Truck ₱ 1,050,000.00


    Accum. Depreciation ₱ 1,200,000.00
    Old Truck ₱ 2,100,000.00
    Cash ₱ 150,000.00

    F. New Truck ₱ 4,000,000.00


    Accum. Depreciation ₱ 2,000,000.00
    Equipment-old ₱ 2,800,000.00
    Cash ₱ 3,000,000.00
    Gain on Exchange ₱ 200,000.00
    Purchase Price allocated to the
    ₱ 2,600,000.00
    land (4,000,000 - 1,400,000)
    Legal Cost of Conveying Land ₱ 20,000.00
    Total Cost Of Land ₱ 2,620,000.00

    Purchase Price ₱ 1,400,000.00


    Cost Remodelling ₱ 400,000.00
    Total Cost of Office Building ₱ 1,800,000.00

    Materials and Supplies ₱ 6,000,000.00


    Excavation ₱ 200,000.00
    Labor on construction ₱ 5,000,000.00
    Cash discount ₱ 120,000.00
    Supervision by management ₱ 140,000.00
    Compensation insurance ₱ 40,000.00
    Clerical and other expenses related
    ₱ 60,000.00
    to construction
    Plans and specification ₱ 280,000.00
    Total Cost of Factory Building ₱ 11,840,000.00
    Cash Paid ₱ 3,000,000.00
    Fee for title search ₱ 30,000.00
    Survey before construction of
    ₱ 60,000.00
    new building
    Assesment of drainage project ₱ 15,000.00
    Cost of grading, levelling and
    ₱ 135,000.00
    land fill
    Total Cost Of Land ₱ 3,240,000.00

    Removal of old building ₱ 150,000.00


    Payment to tenants ₱ 45,000.00
    Architect Fee ₱ 600,000.00
    Building Permit ₱ 90,000.00
    Excavation ₱ 300,000.00
    New building constructed ₱ 18,000,000.00
    Driveways and walks to new
    ₱ 120,000.00
    building
    Temporary quarters to
    ₱ 240,000.00
    construction crew
    Temporary building to house
    ₱ 180,000.00
    toll and materials
    Cost of changes during
    ₱ 150,000.00
    construction
    Total Cost of New Building ₱ 19,875,000.00
    Cost of equipment ₱ 4,500,000.00
    Initial delivery and handling cost ₱ 360,000.00
    Cost of site preparation ₱ 1,080,000.00
    Consultants used for advice ₱ 1,260,000.00
    Estimated dismantling cost ₱ 540,000.00
    Total Cost ₱ 7,740,000.00
    Cash paid (1,075,000 - 96,000) ₱ 979,200.00
    Cost of transporting machine ₱ 36,000.00
    Installation cost ₱ 60,000.00
    Testing cost ₱ 48,000.00
    Safety rails and platform ₱ 72,000.00
    Water device ₱ 96,000.00
    Cost of adjusment ₱ 90,000.00
    Estimated dismantling cost ₱ 78,000.00
    Total Cost of Machine ₱ 1,459,200.00

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