Sunteți pe pagina 1din 6

TUGAS

Akuntansi Keuangan Menengah 1

Asset Tetap

DISUSUN OLEH:

● Riyand Indrawan Nasution (150503149)


● Desy Melati ​Lubis `` (150503134)

DEPARTEMEN AKUNTANSI

FAKULTAS EKONOMI DAN BISNIS


UNIVERSITAS SUMATERA UTARA

TAHUN 2018/2019

P11-5

The following data relate to the plant assets account of eeshkol, Inc. at December 31,2010

Plant Assets

A B C D
Original cost $ 46,000 $ 51,000 $80,000 $80,000
Year purchased 2005 2006 2007 2008
Useful life 10 years 15,000 hours 15 years 10 years
Residual value $3,100 $3,000 $5,000 $5,000
Depreciation Sum of years Activity Straight line Double
method digits declining balace
Accum, depr. $31,200 $35,200 $15,000 $16,000
Though 2010
*in the year an asset to purchased, Eshkol, inc. does not record any depreciation expense on the
assets

in the year an asset is retired or traded in, Eshkol, inc. takes a full year’s depreciation on the assets

The following transactions accured during 2011.

a) On may 5, assets A was sold for $13,000 cash. The company’s bookkeeper recorded
this retirement in the following manner in the cash receips journal
Cash 13,000
Assets 13,000
b) On December 31, it was determined that assets B had been used 2,100 hours during
2011
c) On December 31, before computing depreciation expense on assets c, the
management of Eshkol, inc, decided the useful life remaining from january1, 2011,
was 10 years
d) On December 31, it was discovered that a plant assets purchased in 2010 had been
espensed completely in that year. This assets cost $28,000 and has a useful life of 10
years and no residual value manajement has decided to use the double declining
balance method fpr this assets, witch can berefered to as “asset E”

Instruction

Prepare the necessary correcting entries for the year 2011. Record the appropriate expense on
the above mentioned assets

Answer

(a) Depreciation Expense—Asset A .................................... 3,900


Accumulated Depreciation—Asset A
(5/55 X [£46,000 – £3,100]) .................................. 3,900
Accumulated Depreciation—Asset A ........................... 35,100
Asset A (£46,000 – £13,000)................................... 33,000
Gain on Disposal of Plant Assets........................ 2,100

(b) Depreciation Expense—Asset B .................................... 6,720


Accumulated Depreciation—Asset B
([£51,000 – £3,000] ÷ 15,000 X 2,100) .............. 6,720
(c) Depreciation Expense—Asset C .................................... 6,000
Accumulated Depreciation—Asset C
([£80,000 – £15,000 – £5,000] ÷ 10) .................. 6,000
(d) Asset E.................................................................................... 28,000
Retained Earnings .................................................... 28,000

Depreciation Expense—Asset E..................................... 5,600*


Accumulated Depreciation—Asset E................. 5,600
*(£28,000 X .20)
Note: No correcting entry is needed for asset D. In 2010, Eshkol
records depreciation expense of $80,000 X (10% X 2) = $16,000.
P 12-8

(Accounting for organization costs) ​Fontenot corporation was organized in 2009 and began
operations at the beginning of 2010. The company is involved in interior design consulting
services. The following costs were incurred prior to the start of operations.

Attorney’s fees in connection with organization


Of the company $ 17,000
Purchase of drafting and design equipment $ 10,000
Costs of meetings incorporators to discuss
Organizational activities $ 7,000
Government filling fees to incorporate $ 1,000
$ 35,000
Instructions
a) Compute the total amount of organization costs incurred by Fontenot.
b) Prepare the journal entry to record organization costs for 2010.

Answer

(a) Attorney’s fees in connection with organization

of the company
............................................................................ $17,000

Costs of meetings of incorporators to discuss

organizational activities............................................................ 7,000

State filing fees to


incorporate................................................... 1,000

Total organization
costs............................................................... $​25,000
Drafting and design equipment, $10,000, should be classified as part of fixed assets,
rather than as organization costs.

(b) Organization Cost Expense ........................................ 25,000

Cash (Payables) ................................................... 25,000

S-ar putea să vă placă și