Problem 27-26 (AICPA Adapted)At the beginning of current year, Vicious Company reportedthe following property, plant and property and accumulateddepreciation:AccumulatedCostdepreciationLandLand improvementsBuildingMachinery and equipment350,000180,0004,500,0001,160,0001,800,00045,0001,050,000405,0001,344,000AutomobilesLand improvements – Straight line, 15 years.Building – 150% declining balance, 20 years.Machinery and equipment – Straight line, ten years.Automobiles – 150% declining balance, three years.On January 1, machinery and equipment were purchasedat a total invoice cost of P260,000, which included a P10,000charge for freight. Installation cost of P40,000 was incurred.On June 30, a machine purchased for P60,000 two yearsago was sold for P36,000.*On December 31, the entity purchased a new automobilefor P460,000 cash and trade-in of an automobile purchasedfor P540,000 three years ago. The new automobile has acash price of P570,000.*Required:Determine the following for the current year:1. Depreciation of land improvements2. Depreciation of building3. Depreciation of machinery and equipment4. Depreciation of automobiles799

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1. Depreciation of land improvements 2. Depreciation of building 3. Depręciation of machinery and equipment

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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please answser the following LIST OF ACCOUNTS: Accumulated Depletion Accumulated Depreciation - Automobiles Accumulated Depreciation - Buildings Accumulated Depreciation - Equipment Accumulated Depreciation - Furniture and Fixtures Accumulated Depreciation - Machinery Accumulated Depreciation - Vehicles Accumulated Impairment Losses - Building Accumulated Impairment Losses - Equipment Accumulated Impairment Losses - Land Accumulated Impairment Losses - Machinery Accumulated Impairment Losses - Mine Accumulated Impairment Losses - Patents Accumulated Impairment Losses - Tools and Dies Accumulated Impairment Losses - Vehicles Asset Retirement Obligation Buildings Cash Common Shares Contribution Expense Cost of Goods Sold Deferred Revenue - Government Grants Depreciation Expense Equipment Furniture and Fixtures Gain on Disposal of Automobiles Gain on Disposal of Building Gain on Disposal of Equipment Gain on Disposal of Furniture and Fixtures Gain on Disposal of Machinery Gain on…
please answser the following LIST OF ACCOUNTS: Accumulated Depletion Accumulated Depreciation - Automobiles Accumulated Depreciation - Buildings Accumulated Depreciation - Equipment Accumulated Depreciation - Furniture and Fixtures Accumulated Depreciation - Machinery Accumulated Depreciation - Vehicles Accumulated Impairment Losses - Building Accumulated Impairment Losses - Equipment Accumulated Impairment Losses - Land Accumulated Impairment Losses - Machinery Accumulated Impairment Losses - Mine Accumulated Impairment Losses - Patents Accumulated Impairment Losses - Tools and Dies Accumulated Impairment Losses - Vehicles Asset Retirement Obligation Buildings Cash Common Shares Contribution Expense Cost of Goods Sold Deferred Revenue - Government Grants Depreciation Expense Equipment Furniture and Fixtures Gain on Disposal of Automobiles Gain on Disposal of Building Gain on Disposal of Equipment Gain on Disposal of Furniture and Fixtures Gain on Disposal of Machinery Gain on…
please answser the following LIST OF ACCOUNTS: Accumulated Depletion Accumulated Depreciation - Automobiles Accumulated Depreciation - Buildings Accumulated Depreciation - Equipment Accumulated Depreciation - Furniture and Fixtures Accumulated Depreciation - Machinery Accumulated Depreciation - Vehicles Accumulated Impairment Losses - Building Accumulated Impairment Losses - Equipment Accumulated Impairment Losses - Land Accumulated Impairment Losses - Machinery Accumulated Impairment Losses - Mine Accumulated Impairment Losses - Patents Accumulated Impairment Losses - Tools and Dies Accumulated Impairment Losses - Vehicles Asset Retirement Obligation Buildings Cash Common Shares Contribution Expense Cost of Goods Sold Deferred Revenue - Government Grants Depreciation Expense Equipment Furniture and Fixtures Gain on Disposal of Automobiles Gain on Disposal of Building Gain on Disposal of Equipment Gain on Disposal of Furniture and Fixtures Gain on Disposal of Machinery Gain on…
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