Chapter 19 Accounting for Plant Assets, Depreciation, and Intangible Assets • 75
Name Date Class
1 2 3 4 5
NO. POST.
REF.
GENERAL ACCOUNTS
PAYABLE
DEBIT
DEBIT CREDIT
19-R RECYCLING PROBLEM (LO1–11)
76 • Recycling Problem Working Papers
PLANT ASSET RECORD No. General Ledger Account No.
Description General Ledger Account
Date Serial
Bought Number Original Cost
Estimated
Estimated Salvage Depreciation
Useful Life Value Method
Disposed of: Discarded Sold Traded
Date Disposal Amount
Year Annual Depreciation Expense Accumulated Depreciation Ending Book Value
PLANT ASSET RECORD No. General Ledger Account No.
Description General Ledger Account
Date Serial
Bought Number Original Cost
Estimated
Estimated Salvage Depreciation
Useful Life Value Method
Disposed of: Discarded Sold Traded
Date Disposal Amount
Year Annual Depreciation Expense Accumulated Depreciation Ending Book Value
19-R RECYCLING PROBLEM (continued)
2., 4., 6., 7.
TE
Computer
Work Station
Equipment
Furniture
January 5, 20X1
January 5, 20X1
July 2, 20X5
July 2, 20X5
$7,500.00
$2,200.00
8 years
4 years
1455WZM-8
44-5K26YT
$17,000.00
$34,000.00
Straight-line
Double declining-balance
$1,000.00
$2,000.00
✔
✔
333
334
1205
1215
20X1 $2,000.00 $2,000.00 $15,000.00
20X1 $17,000.00 $17,000.00 $17,000.00
Chapter 19 Accounting for Plant Assets, Depreciation, and Intangible Assets • 77
PLANT ASSET RECORD No. General Ledger Account No.
Description General Ledger Account
Date Serial
Bought Number Original Cost
Estimated
Estimated Salvage Depreciation
Useful Life Value Method
Disposed of: Discarded Sold Traded
Date Disposal Amount
Year Annual Depreciation Expense Accumulated Depreciation Ending Book Value
Plant asset: Estimated salvage value:
Depreciation method: Estimated useful life:
Original cost: Date bought:
Year Beginning Book
Value
Annual
Depreciation
Accumulated
Depreciation
Ending Book
Value
Name Date Class
19-R RECYCLING PROBLEM (continued)
3.
Copier Equipment
April 5, 20X1
5 years
LK8GJY $8,600.00
Straight-line$600.00
335 1205
20X1 $1,200.00 $1,200.00 $7,400.00
20X2 1,600.00 2,800.00 5,800.00
1 $17,000.00 $2,000.00 $ 2,000.00 $15,000.00
2 15,000.00 2,000.00 4,000.00 13,000.00
3 13,000.00 2,000.00 6,000.00 11,000.00
4 11,000.00 2,000.00 8,000.00 9,000.00
Computer
Straight-line
Jan. 5
8 years
$1,000.00
$17,000.00
78 • Recycling Problem Working Papers
Plant asset: Estimated salvage value:
Depreciation method: Estimated useful life:
Depreciation rate:: Date bought:
Original cost:
Year Beginning Book
Value
Annual
Depreciation
Accumulated
Depreciation
Ending Book
Value
Plant asset: Estimated salvage value:
Depreciation method: Estimated useful life:
Original cost: Date bought:
Year Beginning Book
Value
Annual
Depreciation
Accumulated
Depreciation
Ending Book
Value
19-R RECYCLING PROBLEM (continued)
TE
1 $34,000.00 $17,000.00 $17,000.00 $17,000.00
2 17,000.00 8,500.00 25,500.00 8,500.00
1 $8,600.00 $1,200.00 $1,200.00 $7,400.00
2 7,400.00 1,600.00 2,800.00 5,800.00
Work Station
Double declining-balance
50% Jan. 5
4 years
$2,000.00
$34,000.00
Copier
Straight-line
Apr. 5
5 years
$600.00
$8,600.00
Name Date Class
19-R RECYCLING PROBLEM (concluded)
CASH RECEIPTS JOURNAL PAGE 2
DATE ACCOUNT TITLE DOC.
RECEIVABLE
CREDIT
SALES
CREDIT
SALES TAX
PAYABLE
CREDIT
1 1
2 2
3 3
4 4
5 5
6 6
7 7
GENERAL JOURNAL PAGE 1
DATE ACCOUNT TITLE DOC.
NO. POST.
REF. DEBIT CREDIT
1 1
2 2
3 3
4 4
5 5
6 6
7 7
8 8
5.
20X5
Jan. 6Accum. Depr.—Furniture R278 32 0 0 0 00 2 2 0 0 00
Furniture 34 0 0 0 00
Gain on Plant Assets 2 0 0 00
July 2 Accum. Depr.—Equipment R310 9 0 0 0 00 7 5 0 0 00
Loss on Plant Assets 5 0 0 00
Equipment 17 0 0 0 00
20X5
July 2Depreciation Expense—Equipment M65 1 0 0 0 00
Accumulated Depreciation—Equipment 1 0 0 0 00
Adjusting Entries
Dec. 31 Depreciation Expense—Furniture 29 5 0 0 00
Accumulated Depreciation—Furniture 29 5 0 0 00
31 Depreciation Expense—Equipment 65 7 5 0 00
Accumulated Depreciation—Equipment 65 7 5 0 00
