9. Create a PivotTable and complete the following fixed asset schedule. Future Electronics will include the schedule in the notes to itsfinancial statements for fiscal 2020. (Express every number as a pistive number.)a pristivBuildingsEquipmentFurnitureLandLandImprovementsTotalcesCostAt January 1, 202015,316,2004,457,78518,967,2249,872,050Additions5,888,9101,601,51014,369,2702,361,3507,820,6402,041,93056,433,89926,262,970Disposal000000At December 31, 202021,205,1106,059,29533,336,49412,233,4009,862,57082,696,869Accumulated DepreciationAt January 1, 2020465,268798,8793,421,627Depreciation expenseDisposal0At December 31, 2020465,268798,879Carrying AmountAt January 1, 202014,850,9323,658,90615,545,5979,872,0505,735,7210000003,421,62701,049,9475,735,7216,770,69350,698,1782,961,13201,049,947At December 31, 2020

Depreciation is an accounting method where the value of the asset is reduced over a period of time.…

9. Create a PivotTable and complete the following fixed asset schedule. Future Electronics will include the schedule in the notes to its financial statements for fiscal 2020. (Express every number as a pistive number.) Buildings Equipment Furniture Land Land Improvements Total Cost At January 1, 2020 15,316,200 4,457,785 Additions 5,888,910 1,601,510 18,967,224 14,369,270 9,872,050 7,820,640 56,433,899 2,361,350 2,041,930 26,262,970 Disposal 0 0 0 0 0 0 At December 31, 2020 21,205,110 6,059,295 33,336,494 12,233,400 9,862,570 82,696,869 Accumulated Depreciation At January 1, 2020 465,268 798,879 3,421,627 0 1,049,947 5,735,721 0 Depreciation expense Disposal 0 0 0 0 0 0 At December 31, 2020 465,268 798,879 3,421,627 0 1,049,947 5,735,721 Carrying Amount At January 1, 2020 14,850,932 3,658,906 15,545,597 9,872,050 6,770,693 50,698,178 2,961,132 At December 31, 2020

9. Create a PivotTable and complete the following fixed asset schedule. Future Electronics will include the schedule in the notes to its financial statements for fiscal 2020. (Express every number as a pistive number.) Buildings Equipment Furniture Land Land Improvements Total Cost At January 1, 2020 15,316,200 4,457,785 Additions 5,888,910 1,601,510 18,967,224 14,369,270 9,872,050 7,820,640 56,433,899 2,361,350 2,041,930 26,262,970 Disposal 0 0 0 0 0 0 At December 31, 2020 21,205,110 6,059,295 33,336,494 12,233,400 9,862,570 82,696,869 Accumulated Depreciation At January 1, 2020 465,268 798,879 3,421,627 0 1,049,947 5,735,721 0 Depreciation expense Disposal 0 0 0 0 0 0 At December 31, 2020 465,268 798,879 3,421,627 0 1,049,947 5,735,721 Carrying Amount At January 1, 2020 14,850,932 3,658,906 15,545,597 9,872,050 6,770,693 50,698,178 2,961,132 At December 31, 2020

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter19: Accounting For Post Retirement Benefits

Section: Chapter Questions

Problem 14E: Refer to the information provided in E19-13. Required: Using the years-of-future-service method,...

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9. Create a PivotTable and complete the following fixed asset schedule. Future Electronics will include the schedule in the notes to its financial statements for fiscal 2020. (Express every number as a postive number.) Buildings Equipment Furniture Land Land Improvements Total Cost At January 1, 2020 15,316,200 4,457,785 18,967,224 9,872,050 7,820,640 Additions 5,888,910 1,601,510 14,369,270 2,361,350 2,041,930 56,433,899 26,262,970 Disposal 0 0 0 0 0 0 At December 31, 2020 21,205,110 6,059,295 33,336,494 12,233,400 9,862,570 82,696,869 Accumulated Depreciation At January 1, 2020 465,268 Depreciation expense 798,879 1,326,217 3,421,627 0 1,049,947 5,735,721 0 492,778 1,818,995 Disposal 0 0 0 0 0 0 At December 31, 2020 465,268 2,125,096 3,421,627 0 1,542,725 7,554,716 Carrying Amount At January 1, 2020 14,850.932 3,658,906 15,545,597 9,872,050 6,770,693 50,698,178 At December 31, 2020 12.233,400 8,319,845 20,553,245
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1.How much is the carrying amount of property, plant and equipment as of December 31, 2020?a. P435,160 c. P763,440b. P729,840 d. P860,400
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Prepare these journal entries: Dec. 31, 2020 (To clear Intangible Assets account)Dec. 31, 2020 (To correct for amortization on franchises)Dec. 31, 2020 (To correct for rent payments)Dec. 31, 2020 (To record amortization expense on patents)Dec. 31, 2020 (To record amortization expense on licences)Dec. 31, 2020 (To record amortization expense on development cost)
P12.1B (L0 1,2,3,5) (Correct Intangible Asset Account) Dolphin Co., organized in 2019, has set up a single account for all intangible assets. The following summary discloses the debit entries that have been recorded during 2020 and 2021: Instructions 3/1/2020 3/1/2020 4/1/2020 6/30/2020 9/1/2020 12/31/2020 6/30/2021 9/1/2021 Intangible Assets 10-year franchise agreement; expires 2/28/28 Organization costsAdvance payment for 2 years for office space Purchased a patent (8-year life) Cost to develop a patent (10-year life) Net operating loss for 2020Research and development costsLegal fee to successfully defend internally developed patent $ 60,000 7,000 24,000 80,000 40,000 61,000 265,000 13,500 Prepare the necessary entries to clear the Intangible Assets account and to set up separate accounts for distinct types of intangibles. Make the entries as of December 31, 2021, recording any necessary amortization and reflecting all balances accurately as of that date. (Ignore…
P12.1B (LO 1,2,3,5) (Correct Intangible Asset Account) Dolphin Co., organized in 2019, has set up a single account for all intangible assets. The following summary discloses the debit entries that have been recorded during 2020 and 2021: Intangible Assets $ 60,000 3/1/2020 3/1/2020 4/1/2020 6/30/2020 9/1/2020 12/31/2020 6/30/2021 9/1/2021 10-year franchise agreement; expires 2/28/28 Organization costs Advance payment for 2 years for office space Purchased a patent (8-year life) Cost to develop a patent (10-year life) Net operating loss for 2020 Research and development costs Legal fee to successfully defend internally developed patent 7,000 24,000 80,000 40,000 61,000 265,000 13,500 Instructions Prepare the necessary entries to clear the Intangible Assets account and to set up separate accounts for distinct types of intangibles. Make the entries as of December 31, 2021, recording any necessary amortization and reflecting all balances accurately as of that date. (Ignore income tax…