怀尔德《会计学原理》19版答案 (9)

1、chapter 10 plant assets, natural resources, and intangibles quick studies quick study 10-1 (10 minutes) recorded cost = $350,000 + $10,000 + $4,000 + $21,000 = $385,000 note: the $4,200 repair charge is an expense because it is not a normal and reasonable expenditure necessary to get the asset in pl

2、ace and ready for its intended use. q uick study 10-2 (10 minutes) 1. the main difference between plant assets and current assets is that current assets are consumed or converted into cash within a short period of time, while plant assets have a useful life of more than one accounting period. 2. the

3、 main difference between plant assets and inventory is that inventory is held for resale and plant assets are not. 3. the main difference between plant assets and long-term investments is that plant assets are used in the primary operation of the business and investments are not. quick study 10-3 (1

4、0 minutes) straight-line depreciation ($32,500 - $2,500) / 4 years = $7,500 depreciation per year mcgraw-hill companies, 2009 solutions manual, chapter 10 563 hawai quick study 10-4 (10 minutes) units-of-production depreciation ($32,500 - $2,500) / 200 concerts = $ 150 depreciation per concert x 47

5、concerts in 2009 $7,050 depreciation in 2009 q uick study 10-5 (10 minutes) $32,500 cost - 7,500accumulated depreciation (first year) 25,000 book value at point of revision - 2,500salvage value 22,500 remaining depreciable cost 2years of life remaining $11,250 depreciation per year for years 2 and 3

6、 q uick study 10-6 (10 minutes) n ote: double-declining-balance rate = (100% / 8 years) x 2 = 25% first year: $1,200,000 x 25% = $300,000 second year: ($1,200,000 - $300,000) x 25% = $225,000 third year: ($1,200,000 - $300,000 - $225,000) x 25% = $168,750* * total accumulated depreciation of $693,75

7、0 ($300,000 + $225,000 + $168,750) does not exceed the depreciable cost of $1,100,000 ($1,200,000 - $100,000). q uick study 10-7 (10 minutes) 1. (a) capital expenditure (b) revenue expenditure (c) revenue expenditure (d) capital expenditure mcgraw-hill companies, 2009 fundamental accounting principl

8、es, 19th edition 564 2. (a) equipment .40,000 cash. 40,000 to record replacement of compressor. (d) building.225,000 cash. 225,000 to record addition to building. q uick study 10-8 (15 minutes) book value of old machine = $92,500 - $54,000 = $38,500 1. cash.42,000 accumulated depreciation.54,000 equ

9、ipment . 92,500 gain on sale of equipment*. 3,500 to record the sale of equipment. *(gain = $42,000 - $38,500) 2. cash.38,500 accumulated depreciation.54,000 equipment . 92,500 to record the sale of equipment. 3. cash.31,000 accumulated depreciation.54,000 loss on sale of equipment.7,500 equipment .

10、 92,500 to record the sale of equipment. *(loss = $31,000 - $38,500) q uick study 10-9 (10 minutes) 1. ore mine. 6,800,000 cash . 6,800,000 to record cost of ore mine. ($6,300,000 + $500,000) 2. depletion per unit = = $5.90 per ton $6,800,000 - $9 0,0000 1,000,000 tons depletion expenseore mine. 737

11、,500 accumulated depletionore mine. 737,500 to record depletion of ore mine (125,000 x $5.90). mcgraw-hill companies, 2009 solutions manual, chapter 10 565 q uick study 10-10 (10 minutes) i ntangible assets: b) trademark c) leasehold f) copyright g) franchise n atural resources: a) oil well d) gold

12、mine h) timberland note: building is reported under plant assets. q uick study 10-11 (10 minutes) 1. jan. 4 leasehold improvements. 275,000 cash. 275,000 to record leasehold improvements. 2. dec. 31 amortization expenseleasehold improvements .34,375 accumulated amortizationleasehold improvements. 34

13、,375 to record amortization of leasehold over the remaining life of the lease.* * amortization = $275,000 / 8-year-lease-term = $34,375 per year. exercises exercise 10-1 (15 minutes) invoice price of machine.$ 10,400 less discount (.01 x $10,400) . (104) net purchase price.10,296 freight charges (tr

14、ansportation-in).235 mounting and power connections .719 assembly.339 materials used in adjusting. 40 total cost to be recorded.$ 11,629 note: the $250 repair charge is an expense because it is not a normal and reasonable expenditure necessary to get the asset in place and ready for its intended use

15、. mcgraw-hill companies, 2009 fundamental accounting principles, 19th edition 566 exercise 10-2 (15 minutes) c ost of land purchase price for land.$ 209,000 purchase price for old building. 104,000 demolition costs for old building.40,400 costs to fill and level lot . 59,722 total cost of land.$ 413

16、,122 c ost of new building and land improvements cost of new building .$1,564,400 cost of land improvements . 98,750 total construction costs.$1,663,150 j ournal entry land .413,122 land improvements.98,750 building .1,564,400 cash. 2,076,272 to record costs of plant assets. mcgraw-hill companies, 2

17、009 solutions manual, chapter 10 567 e xercise 10-3 (20 minutes) purchase price.$404,000 closing costs. 21,500 total cost of acquisition .$425,500 allocation of total cost appraised value percent of total applying % to cost apportioned cost land .$217,140 47% $425,500 x .47 $199,985 land improvement

18、s.83,160 18 $425,500 x .18 76,590 building. 161,700 35$425,500 x .35 148,925 totals .$462,000 100% $425,500 journal entry land.199,985 land improvements.76,590 building.148,925 cash. 425,500 to record costs of lump-sum purchase. exercise 10-4 (15 minutes) straight-line depreciation: ($102,000 - $21,

19、000) / 5 years = $16,200 per year year annual depreciation year-end book value 2009.$ 16,200 $ 85,800 2010.16,200 69,600 2011.16,200 53,400 2012.16,200 37,200 2013. 16,20021,000 total.$ 81,000 mcgraw-hill companies, 2009 fundamental accounting principles, 19th edition 568 e xercise 10-5 (20 minutes)

20、 double-declining-balance depreciation depreciation rate: (100% / 5 years) x 2 = 20% x 2 = 40% year beginning-year book value depreciation rate annual depreciation year-end book value 2009. $102,000 40% $40,800 $61,200 2010. 61,200 40 24,480 36,720 2011. 36,720 40 14,688 22,032 2012. 22,032 40 1,032

21、*21,000 2013. 21,000 - -21,000 total. $81,000 * do not depreciate more than $1,032 in the fourth year because the $21,000 salvage value is not subject to depreciation. exercise 10-6 (15 minutes) 1. original cost of machine.$ 26,400 less two years accumulated depreciation ($26,400 - $2,900) / 4 years

22、 x 2 years. (11,750) book value at end of second year.$ 14,650 2. book value at end of second year.$ 14,650 less revised salvage value. (2,050) remaining depreciable cost .$ 12,600 revised annual depreciation = $12,600 / 3 years = $4,200 mcgraw-hill companies, 2009 solutions manual, chapter 10 569 e

23、 xercise 10-7 (30 minutes) s traight-line depreciation income before depreciation depreciation expense* net income year 1.$ 86,800 $ 46,780 $ 40,020 year 2.86,800 46,780 40,020 year 3.86,800 46,780 40,020 year 4.86,800 46,780 40,020 year 5. 86,800 46,780 40,020 totals.$434,000 $233,900 $200,100 *($2

24、74,900 - $41,000) / 5 years = $46,780 e xercise 10-8 (30 minutes) d ouble-declining-balance depreciation income before depreciation depreciation expense* net income year 1.$ 86,800 $109,960 $ (23,160) year 2.86,800 65,976 20,824 year 3.86,800 39,586 47,214 year 4.86,800 18,378 68,422 year 5. 86,800

25、0 86,800 totals .$434,000 $233,900 $200,100 supporting calculations for depreciation expense *note: (100% / 5 years) x 2 = 40% depreciation rate beginning book value annual depreciation (40% of book value) accumulated depreciation at the end of the year ending book value ($274,900 cost less accumula

26、ted depreciation) year 1.$274,900 $109,960 $109,960 $164,940 year 2.164,940 65,976 175,936 98,964 year 3.98,964 39,586* 215,522 59,378 year 4.59,378 18,378* 233,900 41,000 year 5.41,000 0 233,900 41,000 total. $233,900 * rounded * must not use $23,751; instead take only enough depreciation in year 4

27、 to reduce book value to the $41,000 salvage value. mcgraw-hill companies, 2009 fundamental accounting principles, 19th edition 570 exercise 10-9 (25 minutes) 1. annual depreciation = $620,000 / 20 years = $31,000 per year age of the building = accumulated depreciation / annual depreciation = $496,0

28、00 / $31,000 = 16 years 2. entry to record the extraordinary repairs building.74,000 cash . 74,000 to record extraordinary repairs. 3. cost of building before repairs.$620,000 add cost of repairs. 74,000$694,000 less accumulated depreciation . 496,000 revised book value of building. $198,000 4. revi

29、sed book value of building (part 3). $198,000 new estimate of useful life (20 - 16 + 7). 11 years revised annual depreciation. $ 18,000 journal entry depreciation expense.18,000 accumulated depreciationbuilding. 18,000 to record depreciation exercise 10-10 (25 minutes) 2013 july 1 depreciation expen

30、se.5,875 accumulated depreciation-machinery. 5,875 to record one-half year depreciation.* *annual depreciation = $94,000 / 8 years = $11,750 depreciation for 6 months in 2013 = $11,750 x 6/12 = $5,875 1 . sold for $43,593 cash july 1 cash .43,593 accumulated depreciationmachinery.52,875 gain on sale

31、 of machinery . 2,468 machinery. 94,000 mcgraw-hill companies, 2009 solutions manual, chapter 10 571 to record sale of machinery.* *total accumulated depreciation at date of disposal: four years 2009-2012 (4 x $11,750) . $47,000 partial year 2013 (6/12 x $11,750). 5,875 total accumulated depreciatio

32、n . $52,875 book value of machinery = $94,000 - $52,875 = $41,125 gain on sale = $43,593 - $41,125 = $2,468 2 . destroyed by fire with $39,480 cash insurance settlement july 1 cash .39,480 loss from fire.1,645 accumulated depreciationmachinery.52,875 machinery. 94,000 to record disposal of machinery

33、 from fire. loss on sale = $39,480 - $41,125 = $(1,645) e xercise 10-12 (10 minutes) jan. 1 copyright.432,000 cash. 432,000 to record purchase of copyright. dec. 31 amortization expensecopyright .28,800 accumulated amortizationcopyright. 28,800 to record amortization of copyright $432,000 / 15 years

34、. exercise 10-13 (10 minutes) 1. goodwill = $2,500,000 - $1,800,000 = $700,000 2. goodwill is not amortized. instead, jeffrey must test the value of the goodwill each year, and if the value is impaired, it must be written down. 3. goodwill is only recorded when it is purchased. goodwill is not recor

35、ded by the company that has created it. mcgraw-hill companies, 2009 fundamental accounting principles, 19th edition 572 problem set a problem 10-1a (50 minutes) part 1 estimated market value percent of total apportioned cost building.$514,250 55% $495,000 land .271,150 29 261,000 land improvements.6

36、5,450 7 63,000 vehicles . 84,150 9 81,000 total .$935,000 100% $900,000 2009 jan. 1 building.495,000 land .261,000 land improvements.63,000 vehicles .81,000 cash. 900,000 to record asset purchases. part 2 year 2009 straight-line depreciation on building ($495,000 - $30,000) / 15 years = $31,000 part

37、 3 year 2009 double-declining-balance depreciation on land improvements (100% / 5 years) x 2 = 40% rate $63,000 x 40% = $25,200 p art 4 accelerated depreciation does not lower the total amount of taxes paid over the assets life. instead, it defers or postpones taxes to the later years of an assets u

38、seful life. this is because accelerated methods charge a higher portion of asset costs against revenue in earlier years and a lower portion in later years. the result is to reduce taxable income more in earlier years but less in later years. note: from a present value perspective, there is a tax sav

39、ings from use of accelerated depreciation. the company gets to use the tax deferred amounts for investment purposes until they are due. mcgraw-hill companies, 2009 solutions manual, chapter 10 573 problem 10-2a (50 minutes) 2008 jan. 1 equipment . 306,900 cash. 306,900 to record loader costs ($293,660 +$11,740 +$1,500). jan. 3 equipment.5,100 cash. 5,100 to record betterment