Name : Audya Intan Mutiarani

NIM : 20200420048

Answer Assignment Meeting 3 Intermediate Accounting II

a. Land 81,000
………………………………………………….
………………………………………………….
Deferred Grant Revenue 81,000

b. Land 180,000
………………………………………………….
………………………………………………….
Buildings ……………………………………… 650,000
Share Capital-Ordinary ($50x 15,000)… 750,000
Share Premium-Ordinary* ……………. 80,000
*Since the market value of the shares is not determinable, the market value of the
property is used as the for recording the asset and issuance of the shares.

c. Machinery …………………………………….. 41,700

Material ……………………………….. 12,500
Direct Labor …………………………... 16,000
Factory Overhead …………………….. 13,200*

*Fixed Overhead applied = (60% x $16,000) $ 9,600

Additional overhead 2,700
Factory supplies 900
$ 13,200