財務(wù)會計概念與應(yīng)用英文版lectu-wenkub.com
2025-01-03 21:28 本頁面
【正文】 Sons purchased a truck for $12,000. The truck has a salvage value of $2,000 and a useful life of 4 years. Compute depreciation using the DDB depreciation method for the first 2 years. 30 SumofYears’Digits Method Sum of the years of the asset’s life SumoftheYear’sDigits (Cost – Salvage Value) Current Year / (4+3+2+1) Year 1 ($12,000 – $2,000) 4/(4+3+2+1) = $4,000 Year 2 ($12,000 – $2,000) 3/(4+3+2+1) = $3,000 Dahl amp。 Sons purchased Clark amp。 Sons will own the property. The present value of the lease payments at a 10% discount rate is $851,360. Make the appropriate entries. Leased Property. . . . . . . . . . . . . . . . 851,360 Lease Liability. . . . . . . . . . . . . . . . 851,360 To record mercial building acquired under a 20year noncancelable lease. Lease Liability. . . . . . . . . . . . . . . . . . 14,864 Interest Expense. . . . . . . . . . . . . . . . 85,136 Cash. . . . . . . . . . . . . . . . . . . . . . . . 100,000 To record annual payment under capital lease. 10 Assets Acquired by Self Construction ? Selfconstructed assets – Recorded at cost. – Include all expenditures incurred to build the asset and make it ready for its intended use. ? Costs include: – Materials used to build the asset. – The construction labor. – Capitalized interest. – Some reasonable share of the general pany overhead. 11 Basket Purchases % When two or more assets are acquired at a single price, the prices are allocated on the “relative fair market value” method. In this example, Dahl and Sons purchased land and a building at a total cost of $3,600,000. Prepare the entry to record the purchase. Land. . . . . . . . . . . . . . . . . . . . . . . . . . . 900,000 Building. . . . . . . . . . . . . . . . . . . . . . . . 2,700,000 Cash. . . . . . . . . . . . . . . . . . . . . . . . 3,600,000 To record building and land acquired for $3,600,000. 3,000,000 100 $3,600,000 Asset FMV % of Total Value Cost Land $1,000,000 25% x $3,600,000 = $ 900,000 Building 75 x $3,600,000 = 2,700,000 Total $4,000,000 12 Depreciation ? Depreciation – The process of cost allocation that assigns the original cost of plant and equipment to the periods benefited. ? Book value – The assets original cost less any accumulated depreciation. ? Salvage value – The amount expected to be received when the asset is sold at the end of its useful life. 13 StraightLine Depreciation ? Costs assigned equally to all periods benefited. Annual Depreciation Expense = Cost Salvage value Estimated useful life (years) = $24,000 $2,000 4 years $5,500 Depreciation Expense. . . . . . . . . . . . . . . . . 5,500 Accumulated Depreciation. . . . . . . . . . . 5,500 To record annual depreciation for truck
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