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    Quiz 1 PPE Part Solution

    Uploaded by

    francis dungca
    1) The document provides balance sheet information for property, plant, and equipment (PPE) accounts including machinery, vehicles, land, buildings, and furniture and fixtures (F&F) for years ending June 30, 2012 and June 30, 2013. 2) It details beginning balances, additions, disposals, accumulated depreciation, and net book values for each year. Gains and losses on sales of PPE are also provided. 3) On September 30, 2012, machinery M3 was sold for $20,000, resulting in a gain of $2,333 based on its carrying amount of $17,667.

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    © All Rights Reserved
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    Quiz 1 PPE Part Solution

    Uploaded by

    francis dungca
    83 views4 pages
    1) The document provides balance sheet information for property, plant, and equipment (PPE) accounts including machinery, vehicles, land, buildings, and furniture and fixtures (F&F) for years ending June 30, 2012 and June 30, 2013. 2) It details beginning balances, additions, disposals, accumulated depreciation, and net book values for each year. Gains and losses on sales of PPE are also provided. 3) On September 30, 2012, machinery M3 was sold for $20,000, resulting in a gain of $2,333 based on its carrying amount of $17,667.

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    1) The document provides balance sheet information for property, plant, and equipment (PPE) accounts including machinery, vehicles, land, buildings, and furniture and fixtures (F&F) for years ending June 30, 2012 and June 30, 2013. 2) It details beginning balances, additions, disposals, accumulated depreciation, and net book values for each year. Gains and losses on sales of PPE are also provided. 3) On September 30, 2012, machinery M3 was sold for $20,000, resulting in a gain of $2,333 based on its carrying amount of $17,667.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    83 views4 pages

    Quiz 1 PPE Part Solution

    Uploaded by

    francis dungca
    1) The document provides balance sheet information for property, plant, and equipment (PPE) accounts including machinery, vehicles, land, buildings, and furniture and fixtures (F&F) for years ending June 30, 2012 and June 30, 2013. 2) It details beginning balances, additions, disposals, accumulated depreciation, and net book values for each year. Gains and losses on sales of PPE are also provided. 3) On September 30, 2012, machinery M3 was sold for $20,000, resulting in a gain of $2,333 based on its carrying amount of $17,667.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 4

    Problem 13 (Items 26. - 47.

    Particulars Machineries Vehicles Land


    Beginning Balance ₱196,000.00 ₱320,000.00 ₱150,000.00
    Additions: M4 75,600.00
    Disposals: M1 -50,000.00 V1 -80,000.00
    Adjusted Cost as of June 30, 2012 (Item
    ₱221,600.00 ₱240,000.00 ₱150,000.00
    26.-32.)

    Particulars Machineries Vehicles Land


    Beginning Balance ₱95,772.00 ₱178,880.00 ₱0.00
    Add: Depreciation Expense 49,277.00 37,044.00 -
    M1 7,500.00 V1 5,292.00

    M2 15,200.00
    V2,V -
    31,752.00
    3&
    V4
    M3 14,000.00
    M4 12,577.00
    Less: Disposals M1 38,437.00 V1 50,012.00
    Accumulated Depreciation as of June 30,
    ₱106,612.00 ₱165,912.00 ₱0.00
    2012 (Item 33.-39.)

    Particulars Machineries Vehicles Land


    Net Book Value as of June 30, 2012 (Item
    ₱114,988.00 ₱74,088.00 ₱150,000.00
    40.-46.)

    Consideration/FV of
    Particulars Carrying Amount
    asset given
    12/30/2011 V1 traded for F&F ₱32,000.00 ₱29,988.00
    3/10/2012 M1 sold 10,000.00 ₱11,563.00
    Net gain/loss on sale of PPE (Item 47.) ₱42,000.00 ₱41,551.00
    Building Land Improvements F&F Total
    ₱581,200.00 ₱36,000.00 ₱0.00 ₱1,283,200.00
    F&F 32,000.00 107,600.00
    -130,000.00

    ₱581,200.00 ₱36,000.00 ₱32,000.00 ₱1,260,800.00 -

    Building Land Improvements F&F Total


    ₱6,840.00 ₱600.00 ₱0.00 ₱282,092.00
    27,360.00 2,400.00 2,700.00 ₱118,781.00

    27,360.00 2,400.00 2,700.00

    ₱88,449.00

    ₱34,200.00 ₱3,000.00 ₱2,700.00 ₱312,424.00 -

    Building Land Improvements F&F Total

    ₱547,000.00 ₱33,000.00 ₱29,300.00 ₱948,376.00 -

    Gain/(loss)

    ₱2,012.00
    - 1,563.00
    ₱449.00 -
    `
    Problem 13 (Item 48.-69.)

    Particulars Machineries Vehicles Land Building


    Beginning Balance ₱221,600.00 ₱240,000.00 ₱150,000.00 ₱581,200.00
    Additions: 104,000.00
    M4 16,000.00
    M5 88,000.00
    Disposals: - 146,000.00
    M2 -84,000.00
    M3 -62,000.00
    Adjusted Cost as of June 30, 2013
    ₱179,600.00 ₱240,000.00 ₱150,000.00 ₱581,200.00
    (Item 48.-54.)

    Particulars Machineries Vehicles Land Building


    Beginning Balance ₱106,612.00 ₱165,912.00 ₱0.00 ₱34,200.00
    Add: Depreciation Expense 41,565.00 22,226.00 - 27,360.00

    M2 7,600.00

    V2,V
    22,226.00 - 27,360.00
    3&
    M3 3,500.00 V4
    M4 8,003.00
    M4 12,712.00
    M5 9,750.00
    Less: Disposals 105,133.00
    M2 60,800.00
    M3 44,333.00
    Accumulated Depreciation as of
    ₱43,044.00 ₱188,138.00 ₱0.00 ₱61,560.00
    June 30, 2012 (Item 55.-61.)

    Particulars Machineries Vehicles Land Building


    Net Book Value as of June 30, 2012
    ₱136,556.00 ₱51,862.00 ₱150,000.00 ₱519,640.00
    (Item 62.-68.)

    Item 69.
    Consideration/FV of
    Particulars Carrying Amount Gain/(loss)
    asset given
    9/30/2012 M3 20,000.00 ₱17,667.00 2,333.00
    Land Improvements F&F Total
    ₱36,000.00 ₱32,000.00 ₱1,260,800.00
    ₱104,000.00

    -₱146,000.00

    ₱36,000.00 ₱32,000.00 ₱1,218,800.00 -

    Land Improvements F&F Total


    ₱3,000.00 ₱2,700.00 ₱312,424.00
    2,400.00 5,400.00 ₱98,951.00

    2,400.00 5,400.00

    ₱105,133.00

    ₱5,400.00 ₱8,100.00 ₱306,242.00 -

    Land Improvements F&F Total

    ₱30,600.00 ₱23,900.00 ₱912,558.00 -

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