会计学原理-约翰·J·怀尔德版-上海交通大学-10
Chapter_21 怀尔德《会计学原理》19版答案
Chapter 21Exercise 21-1 (25 minutes)1. Allocation of Indirect Expenses to Four Operating DepartmentsPersonnel ..............................22 11 8,800 Manufacturing ......................104 52 41,600 Packaging ............................. 34 17 13,600 Totals ....................................200 100% $80,000Personnel ..............................5,000 5 3,050 Manufacturing ......................45,000 45 27,450 Packaging ............................. 23,000 23 14,030 Totals ....................................100,000 100% $61,000Personnel ..............................1,200 1 167 Manufacturing ......................42,000 35 5,845 Packaging ............................. 16,800 14 2,338 Totals ....................................$120,000 100% $16,700 2. Report of Indirect Expenses Assigned to Four Operating DepartmentsMaterials ...................$16,000 $16,470 $ 8,350 $ 40,820 Personnel ..................8,800 3,050 167 $ 12,017Manufacturing ..........41,600 27,450 5,845 $ 74,895 Packaging ................. 13,600 14,030 2,338 $ 29,968 Totals ........................$80,000 $61,000 $16,700 $157,700Exercise 21-2 (30 minutes)........................Depreciation ......................56,600 2,000 MH $28.30 per machine hour Line preparation ...............46,000250 setups $184.00 per setup1. Assignment of overhead costs to the two products using ABCMachinery depreciation ......... 500 hours $ 28.30 14,150 Line preparation ..................... 40 setups $184.00 7,360 Total overhead assigned ....... $23,340Machinery depreciation ......... 1,500 hours $ 28.3042,450 Line preparation ..................... 210 setups $184.00 38,640 Total overhead assigned ....... $84,660Direct labor .................................. 12,200 23,800 Overhead (using ABC) ................ 23,340 84,660 Total cost ..................................... $54,540 $151,660 Quantity produced ...................... 10,500 ft. 14,100 ft. Average cost per foot (ABC) ....... $5.19 $10.763. The average cost of rounded edge shelves declines and the average cost of squared edge shelves increases. Under the current allocation method, the rounded edge shelving was allocated 34% of all of the overhead cost ($12,200 direct labor/$36,000 total direct labor). However, it does not use 34% of all of the overhead resources. Specifically, it uses only 25% of machine hours (500 MH/2,000 MH), and 16% of the setups (40/250). Activity based costing allocated the individual overhead components in proportion to the resources used.Exercise 21-7 (15 minutes)(1) Items included in performance reportThe following items definitely should be included in the performance report for the auto service department manager because they are controlled or strongly influ enced by the manager’s decisions and activities:•Sales of parts•Sales of services•Cost of parts sold•Supplies•Wages (hourly)(2) Items excluded from performance reportThe following items definitely should be excluded from the performance report because the department manager cannot control or strongly influence them:•Building depreciation•Income taxes allocated to the department•Interest on long-term debt•Manager’s salary(3) Items that may or may not be included in performance reportThe following items cannot be definitely included or definitely excluded from the performance report because they may or may not be completely under the manager’s control or strong influence:•Payroll taxes Some portion of this expense relates to themanager’s salary and i s not controllable by themanager. The portion that relates to hourly wagesshould be treated as a controllable expense.•Utilities Whether this expense is controllable depends on thedesign of the auto dealership. If the auto servicedepartment is in a separate building or has separateutility meters, these expenses are subject to themanager’s control. Otherwise, the expense probablyis not controllable by the manager of the auto servicedepartment.Exercise 21-9 (20 minutes)(1)Electronics ...................$750,000 $3,750,000 20% Sporting Goods ...........800,000 5,000,000 16% Comment: Its Electronics division is the superior investment center on the basis of the investment center return on assets.Exercise 21-9 (continued)(2)Net income ...................$750,000 $800,000 Target net income$3,750,000 x 12% ...... 5,000,000 x 12% .......(450,000)(600,000)Residual income……. $300,000 $200,000Comment: Its Electronics division is the superior investment center on the basis of investment center residual income.(3) The Electronics division should accept the new opportunity, since it will generate residual income of 3% (15% - 12%) of the i nvestment’s invested assets.Exercise 21-10 (15 minutes)Electronics ...................$750,000 $10,000,000 7.50% Sporting Goods ...........800,000 8,000,000 10.0%Electronics ...................$10,000,000 $3,750,000 2.67 Sporting Goods ...........8,000,000 5,000,000 1.6 Comments: Its Sporting goods division generates the most net income per dollar of sales, as shown by its higher profit margin. The Electronics division however is more efficient at generating sales from invested assets, based on its higher investment turnover.Problem 21-1A (60 minutes)Part 1Average occupancy cost = $111,800 / 10,000 sq. ft. = $11.18 per sq. ft. Occupancy costs are assigned to the two departments as followsLanya’s Dept................. 1,000 $11.18 $11,180 Jimez’s Dept................. 1,700 $11.18 $19,006**A total of $30,186 ($11,180 + $19,006) in occupancy costs is charged to these departments. The company would follow a similar approach in allocating the remaining occupancy costs ($81,614, computed as $111,800 - $30,186) to its other departments (not shown in this problem).Part 2Market rates are used to allocate occupancy costs for depreciation, interest, and taxes. Heating, lighting, and maintenance costs are allocated to the departments on both floors at the average rate per square foot. These costs are separately assigned to each class as follows:Depreciation—Building .................$ 31,500 $31,500 Interest—Building mortgage .........47,000 47,000Taxes—Building and land .............14,000 14,000Gas (heating) expense ...................4,425 $ 4,425 Lighting expense ...........................5,250 5,250 Maintenance expense .................... 9,625 ______ 9,625 Total ................................................$111,800 $92,500 $19,300Value-based costs are allocated to departments in two stepsSecond floor ...................5,000 10 50,000Total market value .........$250,000Second floor ................... 50,000 20 18,500 3.70Totals ..............................$250,000 100% $92,500Usage-based costs allocation rate = $19,300 / 10,000 sq. ft.= $1.93 per sq. ft.We can then compute total allocation rates for the floors$16.73 Second floor ........................... 3.70 1.93 $ 5.63 These rates are applied to allocate occupancy costs to departmentsLanya’s Department......................... 1,000 $16.73 $16,730 Jimez’s Department......................... 1,700 5.63 $ 9,571Part 3A second-floor manager would prefer allocation based on market value. This is a reasonable and logical approach to allocation of occupancy costs. The current method assumes all square footage has equal value. This is not logical for this type of occupancy. It also means the second-floor space would be allocated a larger portion of costs under the current method, but less using an allocation based on market value.Part 1Professional salaries ..................$1,600,000 10,000 hours $160 per hour Patient services & supplies .......$ 27,000 600 patients $45 per patient Building cost ...............................$ 150,000 1,500 sq. ft. $100 per sq. ft. Total costs ...................................$1,777,000Part 2Allocation of cost to the surgical departments using ABCProfessional salaries ............. 2,500 hours $160 per hr. $400,000 Patient services & supplies ...... 400 patients $45 per patient 18,000 Building cost .......................... 600 sq. ft. $100 per sq. ft. 60,000 Total ...............................................................................................$478,000 Average cost per patient ...............................................................$ 1,195Professional salaries ............. 7,500 hours $160 per hr. $1,200,000 Patient services & supplies ...... 200 patients $45 per patient 9,000 Building cost .......................... 900 sq. ft. $100 per sq. ft 90,000 Total ................................................................................................$1,299,000 Average cost per patient ...............................................................$ 6,495[Note that the sum of the amounts allocated to General Surgery and Orthopedic Surgery ($478,000 + $1,299,000) equals the total amount of indirect costs ($1,777,000).] Part 3If all center costs were allocated on the number of patients, the average cost of general surgery would increase. Since general surgery sees 2/3 of all patients (400/600), it would get allocated 2/3 of all center costs. Orthopedic surgery is currently consuming more professional salaries and building space than general surgery, but has fewer patients.Problem 21-3A (70 minutes)Cost of goods sold ........................ 89,964 63,612 27,500 181,076 (2) Gross profit .................................... 93,636 38,988 22,500 155,124 Direct expensesSales salaries ............................... 21,000 7,100 8,500 36,600Advertising ................................... 2,100 700 1,100 3,900Store supplies used .................... 594 378 400 1,372 (3) Depreciation of equipment ......... 2,300 900 1,000 4,200Total direct expenses .................. 25,994 9,078 11,000 46,072 Allocated expensesRent expense ............................... 5,632 2,835 2,353 10,820 (4) Utilities expense .......................... 2,292 1,153 955 4,400 (4) Share of office dept. expenses ... 15,288 8,540 4,172 28,000 (5) Total allocated expenses ............ 23,212 12,528 7,480 43,220 Total expenses ............................... 49,206 21,606 18,480 89,292Net income ..................................... $ 44,430 $17,382 $ 4,020 $ 65,832 Supporting Computations—coded (1) through (5) in statement aboveGrowth rate (8% increase) ............... x 108% x 108%2010 sales ......................................... $183,600 $102,600 $ 50,000Growth rate (8% increase) ............... x 108% x 108% x 55%* 2010 cost of goods sold .................. $ 89,964 $ 63,612 $ 27,500 A LTERNATIVELY2009 cost of goods sold .................. $ 83,300 $ 58,9002009 sales ......................................... $170,000 $ 95,0002009 cost as % of sales ................... 49% 62%2010 sales ........................................ $183,600 $102,600 $ 50,000 2010 cost as % of sales .................. x 49% x 62% x 55%* 2010 cost of goods sold .................. $ 89,964 $ 63,612 $ 27,500 * T he 55% cost of goods sold percent is computed as 100% minus the predicted 45% gross profit margin.Growth rate (8% increase) ................x 108% x 108%2010 store supplies ..........................$ 594 $ 378 $ 400One-fifth from clock to paintings (1,408) $ 1,408 One-fourth from mirror topaintings ______ (945) 945 2010 allocation of $10,820 rent .........$ 5,632 $ 2,835 $ 2,353 Percent of total * ...............................2010 allocation of $4,400total utilities ....................................$ 2,292 $ 1,153 $ 955Percent of total sales * ......................54.6% 30.5% 14.9% 2010 allocation of $28,000total office departmentexpenses ($20,000 in 2009plus $8,000 increase) ......................$ 15,288 $ 8,540 $ 4,172 * Instructor note: If students round to something other than one-tenth of a percent, theirnumbers will slightly vary.Part 1a.Responsibility Accounting Performance ReportManager, Camper DepartmentFor the YearBudgeted Actual Over (Under)Amount Amount Budget Controllable CostsRaw materials .................................$195,900 $194,800 $ (1,100) Employee wages ............................104,200 107,200 3,000 Supplies used .................................34,000 32,900 (1,100) Depreciation—Equipment ............. 63,000 63,000 0 Totals ..............................................$397,100 $397,900 $ 800b.Responsibility Accounting Performance ReportManager, Trailer DepartmentFor the YearBudgeted Actual Over (Under)Amount Amount Budget Controllable CostsRaw materials .................................$276,200 $273,600 $ (2,600) Employee wages ............................205,200 208,000 2,800 Supplies used .................................92,200 91,300 (900) Depreciation—Equipment ............. 127,000 127,000 0 Totals ..............................................$700,600 $699,900 $ (700)c.Responsibility Accounting Performance ReportManager, Ohio PlantFor the YearBudgeted Actual Over (Under)Amount Amount Budget Controllable CostsDept. manager salaries ................. $ 97,000 $ 98,700 $ 1,700 Utilities ........................................... 8,800 9,200 400 Building rent .................................. 15,700 15,500 (200) Other office salaries ..................... 46,500 30,100 (16,400) Other office costs ......................... 22,000 21,000 (1,000) Camper department ...................... 397,100 397,900 800 Trailer department ........................ 700,600 699,900 (700) Total ............................................... $1,287,700 $1,272,300 $(15,400)Part 2The plant manager did a good job of controlling costs and meeting the budget. He came in under budget for the plant even though he paid the department managers more than budgeted and had to absorb the amounts over budget in their departments. This is because he spent less than the budget amount on building rent, other office salaries, and other office costs. The Trailer Department manager also came in under budget. The Camper Department manager came in over budget, and thus performed the worse of the three managers.Problem 21-1B (60 minutes)Part 1Average occupancy cost = $372,000 / 20,000 sq. ft. = $18.60 per sq. ft.Occu pancy costs are assigned to Miller’s department as followsMiller’s Dept.................. 2,000 $18.60 $37,200Part 2Market rates are used to allocate occupancy costs for the building rent. Lighting and cleaning costs are allocated to the departments on all three floors at the average rate per square foot. Costs assigned to each class are:Lighting expense ................... 20,000 $20,000 Cleaning expense .................. 32,000 _______ 32,000 Totals ...................................... $372,000 $320,000 $52,000Value-based costs are allocated in two steps(i) Compute market value of each floorSecond floor ...................7,500 24 180,000Basement floor ...............5,000 12 60,000Total market value .........$600,000Problem 21-1B (Continued)(ii) Allocate the $320,000 to each floor based on its percent of market valueSecond floor ...................180,000 30 96,000 12.80 Basement floor ............... 60,000 10 32,000 6.40$600,000 100% $320,000Usage-based costs allocation rate = $52,000 / 20,000 sq. ft.= $2.60 per sq. ft.Total allocation rates for the departments on all three floors areSecond floor .................12.80 2.60 15.40Basement floor ............. 6.40 2.60 9.00These rates are applied to alloc ate occupancy costs to Miller’s departmentMiller’s Department ................................2,000 $9.00 $18,000Part 3A basement manager would prefer the allocation based on market value. This is a reasonable and logical approach to allocation of occupancy costs. With a flat rate method, all square footage has equal value. This is not logical for this type of occupancy. Less cost would be allocated to the basement departments if the market value method were used.。
约翰怀尔德 会计学原理
约翰怀尔德会计学原理全文共四篇示例，供读者参考第一篇示例：约翰怀尔德（John Wild）是一位著名的会计学家，他对会计学原理的研究和贡献被广泛认可。
他在他的著作中系统地探讨了会计学的基本原理和理论，帮助人们更好地理解和应用会计学知识。
会计学原理是会计学的基础，是会计科学的根本。
约翰怀尔德在他的著作中详细阐述了会计学原理的重要性，并提出了许多深刻的见解。
他指出，会计学原理是指导会计学实践的准则和规则，其作用是维护会计学的准确性、可靠性和公正性。
在他的著作中，约翰怀尔德强调了会计学原理在企业经营管理中的重要性。
他认为，只有建立在正确的会计学原理基础之上的会计信息才能为企业决策提供准确的参考。
他还指出，遵循正确的会计学原理可以帮助企业提高内部管理效率，加强企业的风险控制能力，提高企业的经营绩效。
约翰怀尔德的著作对会计学原理的研究和理解做出了重要贡献。
他的思想为会计学界和企业管理者提供了宝贵的启示，对促进会计学的发展和提升会计学的实践水平具有重要意义。
希望更多的人可以关注会计学原理的研究，深入理解和应用约翰怀尔德等会计学家的研究成果，为企业的可持续发展和社会的进步做出更大的贡献。
第二篇示例：约翰·怀尔德是一位著名的会计学家，他对会计学原理的研究和贡献被誉为经济学领域的里程碑之一。
怀尔德的研究不仅深刻地影响了当代会计学的发展，也为未来的学者们提供了重要的启示。
本文将对怀尔德的会计学原理进行介绍和分析。
怀尔德认为，会计学原理是会计学的基础，是会计学家应该遵循的核心准则。
在怀尔德看来，会计学原理主要包括：货币计量、持续经营、历史成本、收入确认、费用匹配等几个方面。
这些原则不仅是会计师在日常工作中的行为准则，也是保障会计信息质量和经济运作有序的重要基础。
货币计量原则是指所有的财务信息应该用货币单位进行衡量和记录。
怀尔德认为，货币单位是衡量财务状况和经营业绩的唯一标准，只有将所有的资产、负债、收入和支出都转化为货币单位，才能使这些信息具有可比性和可信度。
会计学原理(第23版)投资和国际经营
学习目标 P2:持有至到期投资的会计处理
25
NEED-TO-KNOW 13-2
编制日记账分录以记录以下涉及短期投资的交易。 a.5月15日,支付$100现金购买起始日为5月15日的Muni公司120天短期债权证券(本金为 $100),利率为6% (归类为持有至到期投资)。 b.9月13日,收到了Muni公司的一张支票,用于支付本金和交易a中购买的债权证券的120天 利息。
短期 (S-T) 和长期(L-T) 投资在其总资产中所占 的百分比
图表13-1 选定的几家公司的投资情况
5 学习目标 C1:区分债权证券与权益证券,短期投资与长期投资
短期投资
短期投资: • 管理层准备在一年内或企业长于一年的一个经 营周期内将其转换成现金。 • 很容易就能转换成现金。
短期投资不包括现金等价物。 现金等价物是指既容易转换为确定金额的现金又在 三个月内到期的投资。
2017
普通日记账
12月15日 短期投资 – 交易性金融资产
现金
12月28日 现金 股利收入
短期投资 – 交易性金融资产 12月15日 130
借方 130
贷方 130
15 15
20 学习目标 P1:交易性金融资产的会计处理
NEED-TO-KNOW 13-1
Berkshire公司在2017年12月15日以$130的价格购买了交易性金融资产。(这是其第一次 也是唯一一次购买此类证券。)12月28日,Berkshire公司从12月15日购买的股票中获得 了$15的现金股利。截至2017年12月31日,该交易性金融资产的公允价值为$140。 a.为交易性金融资产的投资组合编制12月15日的收购分录。 b.为交易性金融资产的投资组合编制12月28日的现金股利分录。 c.为交易性金融资产的投资组合编制12月31日的年末调整分录。
会计学入门读物哪本比较好？
会计学入门读物哪本比较好？会计学入门读物哪本比较好？会计学入门读物哪本比较好？国内的教材感觉都比较枯燥，为了提高对此学科的兴趣，暂且决定先从国外的教材开始入门。
我自己也查阅到了一些国外的会计学教材，我先列举自己查阅到的书籍，还请会计界的各位前辈帮我做些参考。
《会计学原理》作者：约翰·J.怀尔德（貌似这两个版本是一样的，好像就是中英文的区别？）《会计学原理》韦安特《会计学》查尔斯·T·亨格瑞《会计学》查尔斯·T·亨格瑞(这两个貌似是先后版本不同，但价格差距很大，第8版是59.3，第六版是119.5，这是怎么回事？）《财务会计教程》查尔斯·T·亨格瑞《会计学基础》罗伯特·N.安东尼（这个好像也是版本相同，只是中英文的区别？）《会计学:数字意味着什么》戴维?马歇尔（这个好像也是版本相同，只是中英文的区别？）请教各位会计界的前辈以上哪本作为会计学的入门读物更好？如果还有更好的书籍作为会计学的入门读物还请各位前辈推荐指教，先谢过！（本人非专业人士！）（注：本人不是为了考证，我只是想对此学科入门之前，先提高对此学科的兴趣，而后系统性的对此学科有所认知。
因此，我非常需要一个趣味性较强而又在知识上综合连贯的书或教材或者是一份书单，谢谢！）会计学入门读物哪本比较好？国内的教材感觉都比较枯燥，为了提高对此学科的.兴趣，暂且决定先从国外的教材开始入门。
我自己也查阅到了一些国外的会计学教材，我先列举自己查阅到的书籍，还请会计界的各位前辈帮我做些参考。
《会计学原理》作者：约翰·J.怀尔德工商管理经典译丛?会计与财务系列:会计学原理(第19版)/约翰?J?怀尔德 (John J.Wild)-图书<="" bdsfid="102" i="">普通高等教育"十一五"国家级规划教材?教育部高校工商管理类教材指导委员会双语教学推荐教材?工商管理经典教材?会计与财务系列?会计学原理(第19版)(英文版)/崔学刚<="" bdsfid="104" i=""> （貌似这两个版本是一样的，好像就是中英文的区别？）《会计学原理》韦安特会计学原理(附光盘1张)/韦安特<="" bdsfid="109" i="">《会计学》查尔斯·T·亨格瑞会计学(第8版)/查尔斯·T·亨格瑞(Charles T.Horngren)-图书<=""bdsfid="113" i="">《会计学》查尔斯·T·亨格瑞会计学(第6版)(套装上下册)/享格瑞<="" bdsfid="116" i=""> (这两个貌似是先后版本不同，但价格差距很大，第8版是59.3，第六版是119.5，这是怎么回事？）《财务会计教程》查尔斯·T·亨格瑞财务会计教程(第8版)/亨格瑞<="" bdsfid="120" i="">。
会计学原理-约翰·J·怀尔德版-上海交通大学-04
FastForward Work Sheet For Month Ended December 31, 2007 Unadjusted
Trial Balance Dr. Cr. 4,350 9,720 2,400 26,000 Adjustments Dr. Cr. f 1,800 b a c e 250 1,050 100 375 210
Cash Accounts receivable Supplies Prepaid insurance Equipment Accum. depr. - Equip. Accounts payable Salaries payable Unearned consulting revenue C. Taylor, Capital C. Taylor, Withdrawals Consulting revenue Rental revenue Depr. expense Salaries expense Insurance expense Rent expense Supplies expense Utilities expense Totals Net income
Chapter_01会计学原理答案 principles of accounting 19th edition john j.wild 人大出版社
Importance: GAAP are the rules that specify acceptable accounting
practices.
SEC:
Securities and Exchange Commission
Importance: The SEC is charged by Congress to set reporting rules for
To illustrate, many companies base compensation of managers on the amount of reported income. When the choice of an accounting method affects the amount of reported income, the amount of compensation is also affected. Similarly, if workers in a division receive bonuses based on the division’s income, its computation has direct financial implications for these individuals.
Quick Study 1-7
Assets
=
$375,000 (b) $250,000
$185,000
Liabilities (a) $125,000
$ 90,000 $ 60,000
+
Equity
$250,000
$160,000
(c) $125,000
Quick Study 1-8
Assets
会计学原理约翰·J·怀尔德版上海交通大学
Information useful to help the enterprise achieve its goal, objectives and mission.
Types of Accounting Information
Financial Tax
Managerial
Integrity of Accounting Information
提供商品或服务所有者雇员和供应商顾顾客客债权人人目标和战略投资融资经营短期项目?现金?应收账款?存货长期项目?土地?建筑物?设备?专利?股票和债券短期项目?银行?供应商?员工?政府长期项目?长期债权人?股东采购销售生产管理企业活动概述importanceofaccounting
课程要求--教材与辅助资料
Financial Statements
Internal Users
• • • • • • • •
Board of Directors (董事会) Chief Executive Officer Chief Financial Officer Vice Presidents Business Unit Managers Plant Managers Store Managers Line Supervisors
• Conceptual Chapter Objectives • Analytical Chapter Objectives • Procedural Chapter Objectives
The Accounting Process
Economic Activities
Accounting links decision makers with economic activities and with the results of their decisions.
会计学原理PrinciplesofAccountingppt课件
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1.3.2会计目标
（一） 企业信息的外部使用者 （1）投资者——最主要的使用人。企业盈利能力如何？是否值得投资。 （2）债权人。是否要贷款给这家公司？利息收取多少？该公司能否根据合
约还本付息？是否需要提供担保？ （3）税务部门。公司依法应缴多少税？是否依法纳税？来年的纳税前景如
赖程度如何？能否根据合约按时支付货款？ （7）客户。公司能否继续生存？产品定价是否合理？产品更新换代的打算
如何？ （8）中介机构
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1.3.2会计目标
（二）会计信息的内部使用者 指企业内部各阶层的管理人员，包括公司董事会成员，公司经理、 公司计划、财务、供应、市场等方面的管理人员以及车间部门的负 责人等。 公司职工也属于内部使用者，他们需要考虑的问题是公司是否有 能力按劳付酬？公司的财务状况与获利能力是否足以保障就业？公 司是否在劳动保护方面花了必要或足够的钱？公司是否有能力不断 提高职工福利待遇？
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1.4.2会计核算前提（会计假设）
是对会计领域中某些无法加以论证的事物，根据客观、正常的 情况作出的判断，是全部会计工作的基础，是组织会计核算工作的 前提。 一、会计主体
1.可反映代理理论中的受托责任 2.会计所服务的特定对象，空间范围 3.凡是实行独立核算的经济实体 4.与法人的区别
二、持续经营 1.时间无限性 2.可合理确定六要素的内容
某一历史阶段的会计发展状况、水平与进步，从始到终受到 这一历史阶段会计环境的推动和制约。
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1.1.1会计环境变化对会计的影响
会计环境的构成要素
经济因素
政治法律因素 科学技术因素 文化教育因素
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1.1.1会计环境变化对会计的影响
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P1
Lump-Sum Asset Purchase
The total cost of a combined purchase of land and building is separated on the basis of their relative market values. On January 1, Matrix, Inc. purchased land and building for $200,000 cash. The appraised values are building, $162,500, and land, $87,500. How much of the $200,000 purchase price will be charged to the building and land accounts?
Depreciation = Expense for Period
Cost - Salvage Value Useful life
On January 1, 2007, equipment was purchased for $50,000 cash. The equipment has an estimated useful life of five years and an estimated residual value of $5,000.
McGraw-Hill/Irwin
© The McGraw-Hill Companies, Inc., 2007
Analytical Learning Objectives
A1: Compare and analyze alternative depreciation methods. A2: Compute total asset turnover and apply it to analyze a company’s use of assets.
Real estate commissions Title search and transfer fees
Surveying fees
Land is not depreciable.
McGraw-Hill/Irwin © The McGraw-Hill Companies, Inc., 2007
P1
Chapter 10
Plant Assets, Natural Resources, and Intangibles
McGraw-Hill/Irwin
© The McGraw-Hill Companies, Inc., 2007
Contents
Property, Plant, & Equipment
C2
Depreciation Methods
1.
Straight-line Units-of-production Declining-balance
McGraw-Hill/Irwin
© The McGraw-Hill Companies, Inc., 2007
P2
Straight-Line Method
McGraw-Hill/Irwin
© The McGraw-Hill Companies, Inc., 2007
P1
Lump-Sum Asset Purchase
Appraised Value a $ 87,500 162,500 $ 250,000 % of Value b* Purchase Price Apportioned Cost
Asset Land Building Total
c b × c 35% × $ 200,000 = $ 70,000 35% 65% × 65% 200,000 = 130,000 100% 100% $ 200,000
$87,500 $250,000 35% * $87,500 ÷÷$250,000 ==35% $162,500 ÷ $250,000 = 65%
McGraw-Hill/Irwin
© The McGraw-Hill Companies, Inc., 2007
C2
Depreciation
Depreciation is the process of allocating the cost of a plant asset to expense in the accounting periods benefiting from its use.
McGraw-Hill/Irwin
© The McGraw-Hill Companies, Inc., 2007
Procedural Learning Objectives
P1: Apply the cost principle to compute the cost of plant assets. P2: Compute and record depreciation using the straight-line, units-of-production, and declining-balance methods. P3: Distinguish between revenue and capital expenditures, and account for them. P4: Account for asset disposal through discarding or selling an asset. P5: Account for natural resource assets and their depletion. P6: Account for intangible assets. P7: Appendix 10A: Account for asset exchanges
McGraw-Hill/Irwin © The McGraw-Hill Companies, Inc., 2007
Conceptual Learning Objectives
C1: Describe plant assets and issues in accounting for them. C2: Explain depreciation and the factors affecting its computation. C3: Explain depreciation for partial years and changes in estimates.
Called Property, Plant, & Equipment
McGraw-Hill/Irwin © The McGraw-Hill Companies, Inc., 2007
C1
Plant Assets
Plant Assets as a Percent of Total Assets
100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 74% 54% 55%
Purchase price
Taxes
Transportation charges Installing, assembling, and testing
McGraw-Hill/Irwin
Insurance while in transit
© The McGraw-Hill Companies, Inc., 2007
Acquisition cost Depreciation Methods
Straight-line Units-of-production Double-declining-balance
Disposal of PPE
Natural Resources Intangible assets Exchange of plant assets (Appendix)
$50,000 - $5,000 = $9,000 5 years
Dr. 9,000 Cr. 9,000
Depreciation Expense Accumulated Depreciation - Equipment
To record annual depreciation
McGraw-Hill/Irwin
Acquisition Cost
Acquisition cost excludes financing charges and cash discounts.
McGraw-Hill/Irwin © The McGraw-Hill Companies, Inc., 2007
P1
Land
Title insurance premiums Purchase price Delinquent taxes
9%
eBay
Wal-Mart
AnheuserBusch
McDonald's
McGraw-Hill/Irwin
© The McGraw-Hill Companies, Inc., 2007
C1
Plant Assets
Acquisition 1. Compute cost.
Use 2. Allocate cost to periods benefited. 3. Account for subsequent expenditures.
Land Improvements
Parking lots, driveways, fences, walks, shrubs, and lighting systems.
Depreciate over useful life of improvements.
McGraw-Hill/Irwin © The McGraw-Hosal 4. Record disposal.
McGraw-Hill/Irwin
© The McGraw-Hill Companies, Inc., 2007