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  • BACC 200 Chapters Answers: QS 9-15, QS 9-16

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    Moe Buisiniess
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    The document shows accounting information for several pieces of property, plant, and equipment (PPE). It includes the cost, accumulated depreciation, book value, recoverable amount, and whether an impairment loss is required for each asset. Journal entries are presented for an impairment loss, disposal of equipment resulting in no gain or loss, disposal of machinery resulting in a gain, disposal of a delivery truck resulting in a loss, and disposal of furniture resulting in a loss.

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    The document shows accounting information for several pieces of property, plant, and equipment (PPE). It includes the cost, accumulated depreciation, book value, recoverable amount, and whether an impairment loss is required for each asset. Journal entries are presented for an impairment loss, disposal of equipment resulting in no gain or loss, disposal of machinery resulting in a gain, disposal of a delivery truck resulting in a loss, and disposal of furniture resulting in a loss.

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    26 views6 pages

    BACC 200 Chapters Answers: QS 9-15, QS 9-16

    Uploaded by

    Moe Buisiniess
    The document shows accounting information for several pieces of property, plant, and equipment (PPE). It includes the cost, accumulated depreciation, book value, recoverable amount, and whether an impairment loss is required for each asset. Journal entries are presented for an impairment loss, disposal of equipment resulting in no gain or loss, disposal of machinery resulting in a gain, disposal of a delivery truck resulting in a loss, and disposal of furniture resulting in a loss.

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    of 6

    qs 9-15

    Logic
    Book Recoverable
    Asset Cost AD Value Amount BOOK Value>RA
    Building 1,200,000 465000 735,000 735,000
    Computer 3,500 1800 1,700 200 yes
    Furniture 79,000 53000 26,000 5,000 yes
    Land 630,000 0 630,000 790,000
    Machine 284,000 117000 167,000 172,000

    Journal Entry

    Impairment Loss Dr 22500


    Computer 1500
    Furniture 21000
    Logic
    Impairment Impairment
    BOOK Value <=RA Loss amount
    Yes No
    Yes 1500
    Yes 21,000
    Yes No
    Yes No
    QS 9-16

    Disposal of PPE
    Working Notes Equipment
    Cost 56000
    AD 39000
    Book Value 17000

    Sale value 17000

    Gain/ ( Loss) 0
    No Gain or Loss

    Cash Dr 17000
    AD Dr 39000
    Equipment Cr 56000
    Machinery
    109000
    96000
    13000

    27000

    14000
    Gain

    Cash Dr 27000
    AD Dr 96000
    Machinery Cr 109000
    Gain on Disposal CR 14000
    Delievery Truck
    48000
    33000
    15000

    11000

    - 4,000.00
    Loss

    Cash Dr 11000
    AD Dr 33000
    Loss on Disposal of assets Dr 4000
    Delievery Truck Cr 48000
    Furniture
    26000
    21000
    5000

    -5000
    Loss

    AD Dr 21000
    Loss on Disposal of assets Dr 5000
    Furniture Cr 26000

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