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    Plant Asset, Natural Resources, and Intangible Assets: Intan Firda R C1C016013

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    cepi juniar
    The document discusses several types of asset expenditures incurred by companies: - Land was purchased by Krunk Company for $81,000 including cash price, taxes, fees, commission, and land improvements. - A truck was purchased by Mick Ferguson Company for $31,500 including cash price, insurance, taxes, license, and painting. - Tomorry Company acquired a delivery truck for $42,000 which is being depreciated over 4 years using straight line method to a salvage value of $6,000. - Koman Taxi Service computes depreciation on its taxis using a units of activity method based on miles driven. Depreciation is calculated for two taxis driven different

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    Plant Asset, Natural Resources, and Intangible Assets: Intan Firda R C1C016013

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    cepi juniar
    93 views19 pages
    The document discusses several types of asset expenditures incurred by companies: - Land was purchased by Krunk Company for $81,000 including cash price, taxes, fees, commission, and land improvements. - A truck was purchased by Mick Ferguson Company for $31,500 including cash price, insurance, taxes, license, and painting. - Tomorry Company acquired a delivery truck for $42,000 which is being depreciated over 4 years using straight line method to a salvage value of $6,000. - Koman Taxi Service computes depreciation on its taxis using a units of activity method based on miles driven. Depreciation is calculated for two taxis driven different

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    Tugas 1 Akuntansi.pptx

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    The document discusses several types of asset expenditures incurred by companies: - Land was purchased by Krunk Company for $81,000 including cash price, taxes, fees, commission, and land improvements. - A truck was purchased by Mick Ferguson Company for $31,500 including cash price, insurance, taxes, license, and painting. - Tomorry Company acquired a delivery truck for $42,000 which is being depreciated over 4 years using straight line method to a salvage value of $6,000. - Koman Taxi Service computes depreciation on its taxis using a units of activity method based on miles driven. Depreciation is calculated for two taxis driven different

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    93 views19 pages

    Plant Asset, Natural Resources, and Intangible Assets: Intan Firda R C1C016013

    Uploaded by

    cepi juniar
    The document discusses several types of asset expenditures incurred by companies: - Land was purchased by Krunk Company for $81,000 including cash price, taxes, fees, commission, and land improvements. - A truck was purchased by Mick Ferguson Company for $31,500 including cash price, insurance, taxes, license, and painting. - Tomorry Company acquired a delivery truck for $42,000 which is being depreciated over 4 years using straight line method to a salvage value of $6,000. - Koman Taxi Service computes depreciation on its taxis using a units of activity method based on miles driven. Depreciation is calculated for two taxis driven different

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 19

    Plant Asset, Natural Resources, and Intangible Assets

    Intan Firda R
    C1C016013

    Wiwin Indriyani
    C1C016045

    Miftakhul Janah
    C1C016053

    Rahma Yulita K
    C1C016113
    BE 10 - 1

    The following expenditures were incured by Krunk


    Company in purchasing land :
    Cash Price $70.000, accrued taxes $3.000, attorney’s
    fees $2.500, real estate broker’s commission $2.000,
    and clearing and grading $3.500. what is the cost of
    land?
    Calculation cost of land

    Cash
    Journal : $ 81.000
    Land $ 81.000
    Cash $ 81.000
    Land
    $ 81.000
    BE 10-2

    Mick Ferguson Company incurs the following


    expenditures in purchasing a truck.
    Cash price $ 30.000, accident insurance $2.000,
    sales taxes $ 1.500, motor vehicle license $ 100,
    and painting and lettering $400. what is the cost of
    truck ?
    Calculation cost of truck

    Cash
    $ 31.500
    Journal :
    Vehicles-Truck $ 31.500
    Cash $ 31.500
    Vehicles – Truck
    $ 31.500
    BE 10-3

    Tomorry Company acquires a delivery truck at


    a cost of $42.000.
    The truck is expected to have a salvage value
    of $6.000 at the end of its 4-year useful life.
    Compute annual depreciation for the first and
    second years using straight line method.
    Calculation of depreciation
    Adjustment Entries for the 1st year :
    Depreciation expense $9.000
    Accum. Dep. Of Truck $9.000

    Accum. Dep of Truck


    1st $ 9.000
    2nd $ 9.000

    Depreciation Exp.
    1st $ 9.000
    2nd $ 9.000

    Adjustment Entries for the 2nd year :


    Depreciation expense $9.000
    Accum. Dep. Of Truck $9.000
    BE 10-6

    Koman Taxi Service uses the units of activity


    method in computing depreciation on its taxicabs.
    Each cab is expected to be driven 150.000 miles.
    Taxi no 10 cost $ 33.500 and is expected to have a
    salvage value of $500. taxi no 10 is driven 30.000
    miles in year 1 and 20.000 miles in year 2. compute
    the depreciation for each year.
    Calculation of depreciation
    Adjustment Entries for the 1st year :
    0,22 x 30.000 miles = $ 6.600
    Depreciation expense $6.600
    Accum. Dep. Of Taxi $6.600
    Accum. Dep of Taxi
    1st $ 6.600
    2nd $ 4.400

    Depreciation Exp.
    1st $ 6.600
    2nd $ 4.400
    Adjustment Entries for the 2nd year :
    0,22 x 20.000 miles = $ 4.400
    Depreciation expense $4.400
    Accum. Dep. Of Taxi $4.400
    BE 10 - 9

    Prepare journal entries to record the following


    a. Twitter Tracker Company retires its delivery
    equipment, which cost $41.000. Accumulated
    depreciation is also $41.000 on this delivery
    equipment. No salvage value is received
    b. Assume the same information as (a) except
    that accumulated depreciation is $39.000,
    instead of $41.000 on the delivery
    equipment.
    a.
    Equipment
    Saldo $ 41.000 $41.000
    Total 0

    Journal:
    Accum. Dep. Of Equipment $41.000
    Equipment $41.000

    Accum. Dep. Of Equipment


    $ 41.000 Saldo $41.000
    Total 0
    b.
    Equipment
    Saldo $ 41.000 $41.000
    Total 0

    Journal:
    Accum. Dep. Of Equipment $39.000
    Loss on retairing of Equip. $2.000
    Equipment $41.000

    Loss on retairing of Equipment Accum. Dep. Of Equipment


    $ 2.000 $ 39.000 Saldo $41.000
    Total $2.000 Total 2.000
    BE 10 - 10

    Wing Pang Company sells equipment on


    September 30.2012, for $20.000 cash. The
    equipment originally cost $72.000 and as of
    January 1,2012, had accumulated depreciation of
    $42.000. Depreciation for the first 9 months of
    2012 is $5.250.
    Prepare the journal entries to:
    (a)update depreciation to September 30,2012 and
    (b)record the sale of the equipment.
    a.
    Adjustment Entries

    2012 Depreciation Expense $5,250


    Sep,30 Accumulated Dep. Of Equipment $5,250

    Posting
    b.

    Calculation for selling:


    Entries

    Cash Accum. Dep. Of Equipment


    Sep,30 $47.250 Saldo $42.000
    Sep,30 $20.000
    Sep,30 $5.250
    (Adjust)
    Saldo 0
    Akhir
    Equipment
    Saldo $72.000 Sep,30 $72.000
    Loss on Disposal of Equipment
    Saldo
    0 Sep,30 $4.750
    Akhir
    Thank You

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