Akuntansi Keuangan Menengah 1

Kelompok 5
1. Maya Putri Wijaya (142200210)
2. Muhammad Alfarizi (142200278)

Kelas EA-I
P11.7 (LO 1, 2) (Depreciation for Partial Periods—SL, Act., SYD, and DDB) On January 1, 2020,
a machine was purchased for $90,000. The machine has an estimated residual value of $6,000
and an estimated useful life of 5 years. The machine can operate for 100,000 hours before it
needs to be replaced. The company closed its books on December 31 and operates the
machine as follows: 2020, 20,000 hours; 2021, 25,000 hours; 2022, 15,000 hours; 2023, 30,000
hours; and 2024, 10,000 hours.

Instructions
a. Compute the annual depreciation charges over the machine’s life assuming a December
31 year-end for each of the following depreciation methods.
1. Straight-line method.
2. Activity method.
3. Sum-of-the-years’-digits method.
4. Double-declining-balance method.
b. Assume a fiscal year-end of September 30. Compute the annual depreciation charges
over the asset’s life applying each of the following methods.
1. Straight-line method.
2. Sum-of-the-years’-digits method.
3. Double-declining-balance method.
a.
1. Straight-line Method: $90,000 – $6,000 / 5 years = $16,800 a year
2. Activity Method: 90,000 – $6,000 / 100,000 hours = $.84 per hour

Year 2020 20,000 hrs. X $.84 = $16,800

2021 25,000 hrs. X $.84 = 21,000
202215,000 hrs. X $.84 = 12,600
2023 30,000 hrs. X $.84 = 25,200
2024 10,000 hrs. X $.84 = 8,400
3. Sum-of-the-Years’-Digits: 5 + 4 + 3 + 2 + 1 = 15
Year 2020 5/15 X ($90,000 – $6,000) = $28,000
2021 4/15 X $84,000 = 22,400
2022 3/15 X $84,000 = 16,800
2023 2/15 X $84,000 = 11,200
20241/15 X $84,000 = 5,600
4. Double-Declining-Balance Method: Each year is 20% of its total life. Double the rate to 40%.
Year 2020 40% X $90,000 = $36,000
2021 40% X ($90,000 – $36,000) = 21,600
2022 40% X ($90,000 – $57,600) = 12,960
2023 40% X ($90,000 – $70,560) = 7,776
2024Enough to reduce to salvage = 5,664
B.
1. Straight-line Method:
$90,000 – $6,000
Year 2020 5 years X 9/12 = $12,600
2021 Full year 16,800
2022 Full year 16,800
2023 Full year 16,800
2024 Full year 16,800
2025 Full year X 3/12 year = 4,200
2. Sum-of-the-Years’-Digits:
2020 (5/15 X $84,000) X 9/12 = $21,000
2021 (5/15 X $84,000) X 3/12 = $ 7,000
(4/15 X $84,000) X 9/12 = 16,800 23,800

2022 (4/15 X $84,000) X 3/12 = 5,600

(3/15 X $84,000) X 9/12 = 12,600 18,200

2023 (3/15 X $84,000) X 3/12 = 4,200

(2/15 X $84,000) X 9/12 = 8,400 12,600

2024 (2/15 X $84,000) X 3/12 = 2,800

(1/15 X $84,000) X 9/12 = 4,200 7,000

2025 (1/15 X $84,000) X 3/12 = 1,400

3. Year Cost Accum. Depr. of Year Book Value of Year Depr. Expense

2020 $90,000 — $90,000 $27,000 (1)

2021 90,000 $27,000 63,000 25,200 (2)
2022 90,000 52,200 37,800 15,120 (3)
2023 90,000 67,320 22,680 9,072 (4)
2024 90,000 76,392 13,608 5,443 (5)
2025 90,000 81,835 8,165 2,165 (6

(1) $90,000 X 40% X 9/12

(2) ($90,000 – $27,000) X 40%
(3) ($90,000 – $52,200) X 40%
(4) ($90,000 – $67,320) X 40%
(5) ($90,000 – $76,392) X 40%
(6) to reduce to $6,000 salvage value
P11.9 (LO 3) (Impairment) Roland SE uses special strapping equipment in its packaging business.
The equipment was purchased in January 2021 for €10,000,000 and had an estimated useful life
of 8 years with no residual value. At December 31, 2022, new technology was introduced that
would accelerate the obsolescence of Roland’s equipment. Roland’s controller estimates that the
present value of expected future net cash flows on the equipment will be €5,300,000 and that the
fair value less costs to sell the equipment will be €5,600,000. Roland intends to continue using the
equipment, but it is estimated that the remaining useful life is 4 years. Roland uses straight-line
depreciation.
Instructions
a. Prepare the journal entry (if any) to record the impairment at December 31, 2022
(depreciation for 2022 has been recorded).
b. Prepare any journal entries for the equipment at December 31, 2023. The recoverable
amount of the equipment at December 31, 2023, is estimated to be €4,900,000.
c. Repeat the requirements for (a) and (b), assuming that Roland intends to dispose of
the equipment and that it has not been disposed of as of December 31, 2023.
a. Carrying value of asset: $10,000,000 – $2,500,000* = $7,500,000.
*($10,000,000 ÷ 8) X 2
Recoverable amount ($5,600,000) < Carrying value ($7,500,000)
Impairment entry:
Loss on Impairment.............................................. …………………. 1,900,000
Accumulated Depreciation— Equipment.................... 1,900,000
*$7,500,000 – $5,600,00
B. Depreciation Expense .......................................... …………………. 1,400,000
Accumulated Depreciation— Equipment............. ….. 1,400,000
**($5,600,000 ÷ 4)
Accumulated Depreciation—Equipment........ ……….. 700,000
Recovery of Impairment Loss................. 700,000
$4,900,000 – ($5,600,000 – $1,400,000)
C. No depreciation is recorded on impaired assets to be disposed of. Recovery of impairment losses are recorded.
12/31/22 Loss on Impairment................................................. 1,900,000
Accumulated Depreciation— Equipment .................. 1,900,000
12/31/23 Loss on Impairment.................................... 700,000
Accumulated Depreciation— Equipment ($5,600,000 –
$4,900,000)................... 700,000
P11.11 (LO 4) (Mineral Resources)

Phelps Oil Wildcatters plc has leased property on which oil has been discovered. Wells on this property
produced 36,000 barrels of oil during the past year, which sold at an average sales price of £65 per barrel.
Total oil resources of this property are estimated to be 500,000 barrels. The lease provided for an outright
payment of £1,200,000 to the lessor (owner) before drilling could be commenced and an annual rental of
£62,000. A premium of 4% of the sales price of every barrel of oil removed is to be paid annually to the lessor.
In addition, Phelps (lessee) is to clean up all the waste and debris from drilling and to bear the costs of
reconditioning the land for farming when the wells are abandoned. At the time of the lease, the estimated fair
value of this clean-up and reconditioning is £50,000.

Instructions
a. From the provisions of the lease agreement, compute the cost per barrel for the past year, exclusive of
operating costs, to Phelps.
b. Compute the impact on Phelps’ current-year profit and loss of the operation of the leased property.
c. Phelps is considering putting in a bid to lease an adjacent tract of land for development, based on some
preliminary geological surveys and exploratory drilling. Advise Phelps on how to account for these
exploration and evaluation costs.
Answer:

a. Cost per barrel: (£1,200,000 + £50,000) = £2.5/barrel

500,000

b. Sales (36,000 × £65)............................................... £2,340,000

Expenses:

Depletion (36,000 × £2.5)............................. £90,000

Premium Payment (£2,340,000 × 4%)...... 93,600

Annual rental................................................... 62,000 245,600

Current year profit......................................... £2,094,400

c. Phelps memiliki pilihan tentang bagaimana memperhitungkan biaya eksplorasi dan evaluasinya. Hal itu bisa
dengan menghapus biaya-biaya tersebut (write off) saat terjadi atau mengkapitalisasinya sambil menunggu
evaluasi.
P11.13 (LO 5, 7) (Revaluations)

Wang Ltd. owns land (cost HK$200,000) for which it uses revaluation accounting. It has the following
information related to this asset, the only land asset that Wang owns.

Instructions
a. Prepare all entries related to the land for 2021.
b. Determine the amounts to be reported by Wang at December 31, 2022 and 2023, as Land, Other
Comprehensive Income, Impairment Loss, and Accumulated Other Comprehensive Income.
c. Prepare the entry for any revaluation adjustments at December 31, 2022 and 2023.
d. Prepare the entries for the sale of the property by Wang on January 15, 2024, for HK$220,000.
Answer:
a. December 31, 2021
Land ($215,000 – $200,000)....................................... 15,000
Unrealized Gain on Revaluation—Land......................... 15,000

b. Dec. 31, 2022 Dec. 31, 2023

Land $185,000 $205,000
Other Comprehensive Income (15,000) 5,000
Impairment Loss (15,000) 15,000
Accumulated Other Comprehensive Income — 5,000

c. December 31, 2022

Unrealized Gain on Revaluation—Land ............... 15,000
Loss on Impairment.................................................15,000
Land ($215,000 – $185,000) ............................ 30,000

December 31, 2023

Land ($205,000 – $185,000)....................................... 20,000
Recovery of Impairment Loss ....................... 15,000
Unrealized Gain on Revaluation—Land..... 5,000
d. The entries for the sale of the property by Wang on January 15, 2024, for HK$220,000.

January 15, 2024

Cash ................................................................................. 220,000
Land ....................................................................... 205,000
Gain on Disposal of Land ............................... 15,000

Accumulated Other Comprehensive Income ..... 5,000

Retained Earnings............................................. 5,000
 Sekian
Terima kasih!