西方财务会计课后习题答案之欧阳术创编Word文档下载推荐.docx

西方财务会计课后习题答案之欧阳术创编Word文档下载推荐.docx

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（13,007）

Property,Plantandequipment,bookvalue…………

$13,908

Bookvalueislessthancostbecauseaccumulateddepreciationissubtractedfromcosttocomputebookvalue.

（5min）CP7-2

Therelatedcosts（realestatecommission,backpropertytax,removalofabuilding,andsurveyfee）areincludedaspartofthecostofthelandbecausethebuyerofthelandmustincurthesecoststogetthelandreadyforitsintendeduse.

Afterthelandisreadyforuse,therelatedcosts（listedabove）wouldbeexpensed.

（10min.）CP7-3

Land（$150,000⨯.50）……………………….

75,000

Building（$150,000⨯.375）………………….

56,250

Equipment（$150,000⨯.125）………………

18,750

NotePayable………………………………

150,000

Estimated

Market

Value

PercentofTotal

Land………………….

$80,000

$80,000/$160,000

=

50.0%

Building……………..

60,000

$60,000/$160,000

37.5

Equipment…………..

20,000

$20,000/$160,000

12.5

Total……………….…

$160,000

100.0%

（10-15min.）CP7-4

IncomeStatement

Revenues

CORRECT

Expenses

UNDERSTATED

Netincome

OVERSTATED

BalanceSheet

Currentassets

Totalliabilities

Plantassets

OVERSTATED

Owners’equity

Totalassets

andowners’equity

（10min.）CP7-5

1.First-yeardepreciation:

Straight-line（$20,000,000–$6,000,000）/5years...

$2,800,000

Units-of-production[（$20,000,000–$6,000,000）/

5,000,000miles]⨯750,000miles………………….

$2,100,000

Double-declining-balance（$20,000,000/5years⨯2）.

$8,000,000

2.Bookvalue:

Straight-

Line

Units-of-

Production

Double-

Declining-

Balance

Cost…………………….

$20,000,000

LessAccumulated

Depreciation………..

（2,800,000）

（2,100,000）

（8,000,000）

Bookvalue…………….

$17,200,000

$17,900,000

$12,000,000

（10min.）CP7-6

Third-yeardepreciation:

a.

Straight-line（$20,000,000–$6,000,000）/5years…..

b.

5,000,000miles]⨯1,250,000miles…………………

$3,500,000

c.

Double-declining-balance:

Year1（$20,000,000⨯2/5）=$8,000,000

Year2（$20,000,000–$8,000,000）⨯2/5=$4,800,000

Year3（$20,000,000–$8,000,000–$4,800,000=$7,200,000;

$7,200,000–$6,000,000residualvalue）……

$1,200,000

（10min.）CP7-7

1.Thedouble-declining-balance（DDB）methodoffersthetaxadvantageforthefirstyearofanasset’suse.TheadvantageresultsfromthegreateramountofDDBdepreciation（versustheamountofdepreciationundertheothermethods）duringthefirstyear.Thissavescashthatthetaxpayercaninvesttoearnareturn.

DDBdepreciation…………………………………..

Straight-linedepreciation………………………….

Excessdepreciationtaxdeduction……………...

$5,200,000

Incometaxrate………………………………………

⨯.40

Incometaxsavingsforfirstyear…………………

$2,080,000

（5-10min.）CP7-8

First-yeardepreciation（forapartialyear）:

a.Straight-line（€40,000,000–€5,000,000）/5years

⨯9/12………………………………………………

€5,250,000

b.Units-of-production（€40,000,000–€5,000,000）

/5,000,000miles⨯500,000miles…………….

€3,500,000

c.Double-declining-balance（€40,000,000⨯2/5

⨯9/12）….………………………………………….

€12,000,000

UOPdepreciationproducesthehighestnetincome（lowestdepreciation）.DDBdepreciationproducesthelowestnetincome（highestdepreciation）.

（10min.）CP7-9

DepreciationExpense—HotDogStand………...

15,000

AccumulatedDepreciation—HotDogStand..

Depreciationforyears1-4:

$50,000/10years=$5,000peryear

$5,0004years=$20,000foryears1-4

Asset’sremaining

depreciable

（New）Estimated

（New）Annual

bookvalue

usefulliferemaining

depreciation

$50,000–$20,000

2years

$15,000peryear

$30,000

（10min.）CP7-10

Req.1

（a）Straight-linedepreciationmethod:

20X5

Jan.1

Cash………………………………………

10,000

AcumulatedDepreciation…………….

16,000

LossonSaleofDeliveryTruck……...

DeliveryTruck……………………….

41,000

（b）Double-declining-balancedepreciationmethod:

26,240

4,760

DeliveryTrucks……………………...

Req.2

Thedifferencebetweentheamountsofthelossondisposalunderthestraight-linedepreciationmethodandthedou