财务会计导读版第19版书答案 Chp10.docx
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财务会计导读版第19版书答案Chp10
Chapter10
QuickStudy10-1（10minutes）
Recordedcost=$350,000+$10,000+$4,000+$21,000=$385,000
Note:
The$4,200repairchargeisanexpensebecauseitisnotanormalandreasonableexpenditurenecessarytogettheassetinplaceandreadyforitsintendeduse.
QuickStudy10-2（10minutes）
1.Themaindifferencebetweenplantassetsandcurrentassetsisthatcurrentassetsareconsumedorconvertedintocashwithinashortperiodoftime,whileplantassetshaveausefullifeofmorethanoneaccountingperiod.
2.Themaindifferencebetweenplantassetsandinventoryisthatinventoryisheldforresaleandplantassetsarenot.
3.Themaindifferencebetweenplantassetsandlong-terminvestmentsisthatplantassetsareusedintheprimaryoperationofthebusinessandinvestmentsarenot.
QuickStudy10-3（10minutes）
Straight-linedepreciation
（$32,500-$2,500）/4years=$7,500depreciationperyear
QuickStudy10-4（10minutes）
Units-of-productiondepreciation
（$32,500-$2,500）/200concerts=$150depreciationperconcert
x47concertsin2009
$7,050depreciationin2009
QuickStudy10-5（10minutes）
$32,500
Cost
-7,500
Accumulateddepreciation（firstyear）
25,000
Bookvalueatpointofrevision
-2,500
Salvagevalue
22,500
Remainingdepreciablecost
÷2
Yearsofliferemaining
$11,250
Depreciationperyearforyears2and3
QuickStudy10-6（10minutes）
Note:
Double-declining-balancerate=（100%/8years）x2=25%
Firstyear:
$1,200,000x25%=$300,000
Secondyear:
（$1,200,000-$300,000）x25%=$225,000
Thirdyear:
（$1,200,000-$300,000-$225,000）x25%=$168,750*
*Totalaccumulateddepreciationof$693,750（$300,000+$225,000+$168,750）doesnotexceedthedepreciablecostof$1,100,000（$1,200,000-$100,000）.
QuickStudy10-7（10minutes）
1.（a）Capitalexpenditure
（b）Revenueexpenditure
（c）Revenueexpenditure
（d）Capitalexpenditure
2.
（a）Equipment
40,000
Cash
40,000
Torecordreplacementofcompressor.
（d）Building
225,000
Cash
225,000
Torecordadditiontobuilding.
QuickStudy10-8（15minutes）
Bookvalueofoldmachine=$92,500-$54,000=$38,500
1.
Cash
42,000
Accumulateddepreciation
54,000
Equipment
92,500
Gainonsaleofequipment*
3,500
Torecordthesaleofequipment.
*（Gain=$42,000-$38,500）
2.
Cash
38,500
Accumulateddepreciation
54,000
Equipment
92,500
Torecordthesaleofequipment.
3.
Cash
31,000
Accumulateddepreciation
54,000
Lossonsaleofequipment
7,500
Equipment
92,500
Torecordthesaleofequipment.
*（Loss=$31,000-$38,500）
QuickStudy10-9（10minutes）
1.
OreMine
6,800,000
Cash
6,800,000
Torecordcostoforemine.（$6,300,000+$500,000）
2.
Depletionperunit==$5.90perton
DepletionExpense—OreMine
737,500
AccumulatedDepletion—OreMine
737,500
Torecorddepletionoforemine（125,000x$5.90）.
QuickStudy10-10（10minutes）
IntangibleAssets:
b）Trademarkc）Leaseholdf）Copyrightg）Franchise
NaturalResources:
a）Oilwelld）Goldmineh）Timberland
Note:
Buildingisreportedunderplantassets.
QuickStudy10-11（10minutes）
1.
Jan.4
LeaseholdImprovements
275,000
Cash
275,000
Torecordleaseholdimprovements.
2.
Dec.31
AmortizationExpense–LeaseholdImprovements
34,375
AccumulatedAmortization—Leasehold
Improvements
34,375
Torecordamortizationofleaseholdover
theremaininglifeofthelease.*
*Amortization=$275,000/8-year-lease-term=$34,375peryear.
QuickStudy10-12（10minutes）
Totalassetturnover==0.88times
（$000s）
Interpretation:
Thecompany’sturnoverof0.88timesismarkedlylowerthanitscompetitors’turnoverof2.0.Thiscompanymustperformbetterifitistobesuccessfulinthelongrun.
QuickStudy10-13A（10minutes）
Bookvalueofoldmachine=$84,800-$36,800=$48,000
1.
Machinery（new）
104,000
AccumulatedDepreciation–Machinery（old）
36,800
LossonExchangeofAssets*
4,000
Machinery（old）
84,800
Cash
60,000
Torecordassetexchangeassumingcommercialsubstance.*$104,000–（$48,000+$60,000）=$（4,000）
2.
Machinery（new）*
92,000
AccumulatedDepreciation–Machinery（old）
36,800
Machinery（old）
84,800
Cash
44,000
Torecordassetexchangeassuminglackofcommercialsubstance.
*Bookvalueofoldasset+Cashgiven=$48,000+$44,000
EXERCISES
Exercise10-2（15minutes）
Costofland
Purchasepriceforland
$209,000
Purchasepriceforoldbuilding
104,000
Demolitioncostsforoldbuilding
40,400
Coststofillandlevellot
59,722
Totalcostofland
$413,122
Costofnewbuildingandlandimprovements
Costofnewbuilding
$1,564,400
Costoflandimprovements
98,750
Totalconstructioncosts
$1,663,150
Journalentry
Land
413,122
LandImprovements
98,750
Building
1,564,400
Cash
2,076,272
Torecordcostsofplantassets.
Exercise10-3（20minutes）
Purchaseprice
$404,000
Closingcosts
21,500
Totalcostofacquisition
$425,500
Allocationoftotalcost
Appraised
Value
Percent
ofTotal
Applying%
toCost
Apportioned
Cost
Land
$217,140
47%
$425,500x.47
$199,985
Landimprovements
83,160
18
$425,500x.18
76,590
Building
161,700
35
$425,500x.35
148,925
Totals
$462,000
100%
$425,500
Journalentry
Land
199,985
LandImprovements
76,590
Building
148,925
Cash
425,500
Torecordcostsoflump-sumpurchase.
Exercise10-4（15minutes）
Straight-linedepreciation:
（$102,000-$21,000）/5years=$16,200peryear
Year
AnnualDepreciation
Year-EndBookValue
2009
$16,200
$85,800
2010
16,200
69,600
2011
16,200
53,400
2012
16,200
37,200
2013
16,200
21,000
Total
$81,000
Exercise10-5（20minutes）
Double-declining-balancedepreciation
Depreciationrate:
（100%/5years）x2=20%x2=40%
Year
Beginning-Year
BookValue
Depreciation
Rate
Annual
Depreciation
Year-End
BookValue
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*
21,000
2013
21,000
--
--
21,000
Total
$81,000
*Donotdepreciatemorethan$1,032inthefourthyearbecausethe$21,000salvagevalueisnotsubjecttodepreciation.
Exercise10-6（10minutes）
Straight-line:
（$67,000-$4,000）/10years=$6,300
Exercise10-7（10minutes）
Units-of-production:
Depreciationperunit=（$67,000-$4,000）/420,000units=$0.15perunit
For29,900unitsinsecondyear:
Depreciation=29,900x$0.15=$4,485
Exercise10-8（15minutes）
Double-declining-balance:
Double-declining-balancerate=（100%/10years）x2=20%peryear
Firstyear’sdepreciation=$67,000x20%=$13,400
Bookvalueatbeginningofsecondyear=$67,000-$13,400=$53,600
Secondyear’sdepreciation=$53,600x20%=$10,720
Exercise10-9（10minutes）
Straight-linedepreciationfor2009
（$253,000-$25,300）/5years=$45,540
Exercise10-10（15minutes）
Double-declining-balancedepreciationfor2009
Rate=（100%/5years）x2=40%
2008depreciation（$253,000x40%x9/12）
$75,900
BookvalueatJanuary1,2009（$253,000-$75,900）
$177,100
Depreciationfor2009（$177,100x40%）
$70,840
Alternatecalculation
2008depreciation（$253,000x40%x9/12）
$75,900
2009depreciation
$253,000x40%x3/12
$25,300
（$253,000-$75,900-$25,300）x40%x9/12
45,540
Total2009depreciation
$70,840
Exercise10-11（15minutes）
1.
Originalcostofmachine
$26,400
Lesstwoyears'accumulateddepreciation
[（$26,400-$2,900）/4years]x2years
（11,750）
Bookvalueatendofsecondyear
$14,650
2.
Bookvalueatendofsecondyear
$14,650
Lessrevisedsalvagevalue
（2,050）
Remainingdepreciablecost
$12,600
Revisedannualdepreciation=$12,600/3years=$4,200
Exercise10-12（30minutes）
Straight-linedepreciation
Income
before
Depreciation
Depreciation
Expense*
Net
Income
Year1
$86,800
$46,780
$40,020
Year2
86,800
46,780
40,020
Year3
86,800
46,780
40,020
Year4
86,800
46,780
40,020
Year5
86,800
46,780
40,020
Totals
$434,000
$233,900
$200,100
*（$274,900-$41,000）/5years=$46,780
Exercise10-13（30minutes）
Double-declining-balancedepreciation
Income
before
Depreciation
Depreciation
Expense*
Net
Income
Year1
$86,800
$109,960
$（23,160）
Year2
86,800
65,976
20,824
Year3
86,800
39,586
47,214
Year4
86,800
18,378
68,422
Year5
86,800
0
86,800
Totals
$434,000
$233,900
$200,100
Supportingcalculationsfordepreciationexpense
*Note:
（100%/5years）x2=40%depreciationrate
Beginning
Book
Value
Annual
Depreciation
（40%of
BookValue）
Accumulated
DepreciationattheEndoftheYear
EndingBookValue（$274,900CostLessAccumulatedDepreciation）
Year1
$274,900
$109,960
$109,960
$164,940
Year2
164,940
65,976
175,936
98,964
Year3
98,964
39,586**
215,522
59,378
Year4
59,378
18,378***
233,900
41,000
Year5
41,000
0
233,900
41,000
Total
$233,900
**rounded
***Mustnotuse$23,7
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