Account Title

Building

Total
Furnitures & Fixtures

Total
Delivery Vans

Office Equipment

Total

Adjusting Entries
12/31/2018 Building
Cash

Accumulated Depreciation - Building

Depreciation Expense - Building

Accumulated Depreciation - F&F

Depreciation Expense - F&F

Accumulated Depreciation - Transportation Equipment

Depreciation Expense - Transportation Equipment

Accumulated Depreciation - Office Equipment

Depreciation Expense - Office Equipment
 Item Cost Useful Life Time Elapsed

Building 53,000,000.00 20 2/240

Improvements 20,000,000.00
72,977,916.67 19 5/86
Showcases 400,000.00 40 3/80
40 office tables and 40 office chairs 480,000.00 5 3/10
10 conference tables with 80 chairs 600,000.00 5 2/7
30 four-drawer steel cabinets 240,000.00 5 2/9
1 office fire proof Hobart 280,000.00 5 2/9
50 Venetian blinds FineLine 320,000.00 5 1/5
Airconditioning System 1,230,000.00 5 2/7
3,550,000.00
6 Isuzu Crewcab Model 1993,
Motor #123456, Chassis # 821618 6,000,000.00 10 1/9
10 Personal Computers 2,050,000.00 5 2/9
Olympia Electric Typewriter 25,000.00 10 1/7
Olympia Electric Typewriter 25,000.00 10 1/7
10 Electric Fans 30,000.00 5 2/9
2,130,000.00
^

DR CR
19,977,916.67
19,977,916.67
To record unrecorded building
improvement

425,944.99
To adjust overstated depreciation 425,944.99

190,762.50
To adjust overstated depreciation 190,762.50

1,137,500.00
To adjust overstated depreciation 1,137,500.00

274,391.67
To adjust overstated depreciation 274,391.67
 Audited Book Value Per audit
Accumulated Depreciation Cost Accumulated Depreciation Cost
22,083.33

224,055.01 53,000,000.00 650,000.00 72,977,916.67

375.00
28,800.00
33,000.00
10,500.00
12,250.00
13,200.00
66,112.50
164,237.50 3,550,000.00 355,000.00 3,550,000.00

62,500.00 6,000,000.00 1,200,000.00 6,000,000.00

87,125.00
354.17
354.17
1,275.00
151,608.33 2,130,000.00 426,000.00 2,130,000.00
^

Legend
m Amount is material and requires adjustment
^ Totals have been checked and summed appropriately

*.1 Amount is incorrectly calculated

*.2 Recorded under different title in General Ledger - Transportation Equipment
 Per audit Difference/Variance
Remarks
Accumulated Depreciation Cost Accumulated Depreciation

224,055.01 (19,977,916.67) 425,944.99 m/*

^

164,237.50 - 190,762.50 m

62,500.00 - 1,137,500.00 m/*

^

151,608.33 - 274,391.67 m
^

ation Equipment
SAD Amount
43,593.38