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
Continue record on back of card
Name Date Class
19-4 APPLICATION PROBLEM (LO9, 10), p. 614
Recording the disposal of plant assets
1.
Desk Ofce Equipment
April 24, 20X1
October 3, 20X4 $3100
5 years
2525-K $8,300.00
Straight-line$500.00
✔
230 1220
20X1 $1,040.00 $1,040.00 $7,260.00
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
19-4 APPLICATION PROBLEM (continued)
Refrigerator Case Store Equipment
July 7, 20X1
September 21, 20X4 $3,200.00
4 years
F7J8Y12 $10,000.00
Straight-line$2,000.00
✔
254 1230
20X1 $1,000.00 $1,000.00 $9,000.00
Chapter 19 Accounting for Plant Assets, Depreciation, and Intangible Assets • 595
© 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
19-4 APPLICATION PROBLEM (LO9, 10), p. 614
Recording the disposal of plant assets
2.
3.
GENERAL JOURNAL PAGE
DATE ACCOUNT TITLE DOC.
NO.
POST.
REF. DEBIT CREDIT
1 1
2 2
CASH RECEIPTS JOURNAL PAGE
1 2 3 4 5 6 7
DATE ACCOUNT TITLE DOC.
NO.
POST.
REF.
GENERAL ACCOUNTS
RECEIVABLE
CREDIT
SALES
CREDIT
SALES TAX
PAYABLE
CREDIT
SALES
DISCOUNT
DEBIT
CASH
DEBIT
DEBIT CREDIT
1 1
2 2
3 3
Name Date Class
3
20X5
Oct. 3Depreciation Expense—Office Equipment M35 1 1 7 0 00
Accum. Depreciation—Office Equipment 1 1 7 0 00
3
20X5
Oct. 3Accum. Depr.—Office Equipment R375 5 3 3 0 00 3 1 0 0 00
Office Equipment 8 3 0 0 00
Gain on Plant Assets 1 3 0 00
23148_ch19_hr_561-604.indd 595 1/18/18 1:37 AM
19-5 APPLICATION PROBLEM (LO11), p. 614
Calculating depreciation using the double declining-balance depreciation method
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:
Depreciation rate: Date bought:
Original cost:
Year Beginning Book
Value
Annual
Depreciation
Accumulated
Depreciation
Ending Book
Value
DEPRECIATION TABLE
DEPRECIATION TABLE
1 $20,000.00 $5,000.00 $5,000.00 $15,000.00
2 15,000.00 3,750.00 3,750.00 11,250.00
3 11,250.00 2,812.50 2,812.50 8,437.50
4 8,437.50 2,109.38 2,109.38 6,328.12
1$40,000.00 $20,000.00 $20,000.00 $20,000.00
ForkLift
Cutting Machine
Double Declining-Balance
Double Declining-Balance
Jan. 3
Jan. 5
8 years
4 years
$2,500.00
$3,000.00
25%
50%
$20,000.00
$40,000.00
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
Name Date Class
19-5 APPLICATION PROBLEM (concluded)
DEPRECIATION TABLE
1 $16,000.00 $6,400.00 $6,400.00 $9,600.00
2 9,600.00 3,840.00 10,240.00 5,760.00
Scale
Double Declining-Balance
Jan. 8
5 years
$1,000.00
40%
$16,000.00
598 • Working Papers
© 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
CASH PAYMENTS JOURNAL PAGE
12345
DATE ACCOUNT TITLE CK.
NO.
POST.
REF.
GENERAL ACCOUNTS
PAYABLE
DEBIT
PURCHASES
DISCOUNT
CREDIT
CASH
CREDIT
DEBIT CREDIT
1 1
2.
GENERAL JOURNAL PAGE
DATE ACCOUNT TITLE DOC.
NO.
POST.
REF. DEBIT CREDIT
1 1
2 2
3 3
19-6 APPLICATION PROBLEM (LO12, 13), p. 614
Accounting for intangible assets
TE
20X1
Jan. 5 Patent C315 700 0 0 0 00 700 0 0 0 00
1
1
Adjusting Entries
20X1
Dec. 31 Amortization Expense 70 0 0 0 00
23148_ch19_hr_561-604.indd 598 1/18/18 1:37 AM
CASH PAYMENTS JOURNAL PAGE
DATE ACCOUNT TITLE CK.
PAYABLE
DEBIT
PURCHASES
DISCOUNT
CREDIT
1 1
2 2
3 3
4 4
5 5
6 6
7 7
Name Date Class
19-M MASTERY PROBLEM (LO1–11), p. 615
Recording transactions for plant assets
1
20X1
Jan. 5 Equipment C521 20 0 0 0 00 30 0 0 0 00
Furniture 10 0 0 0 00
Feb. 26 Property Tax Expense C560 6 6 0 0 00 6 6 0 0 00
Apr. 5 Equipment C602 6 5 0 0 00 6 5 0 0 00
19-M MASTERY PROBLEM (continued)
2., 4., 6., 7.
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
X-ray Machine
Supply Cabinet
Equipment
Furniture
January 5, 20X1
January 5, 20X1
July 2, 20X5
January 6, 20X5
$1,700.00
$1,500.00
5 years
5 years
ZYX487-6
74-3554-L8
$20,000.00
$10,000.00
Straight-line
Double declining-balance
$0.00
$800.00
✔
✔
715
716
1215
1205
20X1 $4,000.00 $ 4,000.00 $16,000.00
20X2 4,000.00 8,000.00 12,000.00
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
Name Date Class
19-M MASTERY PROBLEM (continued)
3.
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
DEPRECIATION TABLE
Testing Machine Equipment
April 5, 20X1
6 years
7-H256 $6,500.00
Straight-line$500.00
717 1215
20X1 $ 750.00 $ 750.00 $5,750.00
20X2 1,000.00 1,750.00 4,750.00
1 $20,000.00 $4,000.00 $ 4,000.00 $16,000.00
2 16,000.00 4,000.00 8,000.00 12,000.00
X-ray Machine
Straight-line
Jan. 5
5 years
$0.00
$20,000.00
19-M MASTERY PROBLEM (continued)
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
DEPRECIATION TABLE
DEPRECIATION TABLE
1 $10,000.00 $4,000.00 $4,000.00 $6,000.00
1 $6,500.00 $ 750.00 $ 750.00 $5,750.00
2 5,750.00 1,000.00 1,750.00 4,750.00
3 4,750.00 1,000.00 2,750.00 3,750.00
Supply Cabinet
Double Declining-Balance
Jan. 5
5 years
$800.00
40%
$10,000.00
Testing Machine
Straight-line
Jan. 5
6 years
$500.00
$6,500.00
Chapter 19 Accounting for Plant Assets, Depreciation, and Intangible Assets • 603
© 2019 Cengage®. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole or in part.
CASH RECEIPTS JOURNAL PAGE
1 2 3 4 5 6 7
DATE ACCOUNT TITLE DOC.
NO.
POST.
REF.
GENERAL ACCOUNTS
RECEIVABLE
CREDIT
SALES
CREDIT
SALES TAX
PAYABLE
CREDIT
SALES
DISCOUNT
DEBIT
CASH
DEBIT
DEBIT CREDIT
1 1
2 2
3 3
5.
GENERAL JOURNAL PAGE
DATE ACCOUNT TITLE DOC.
NO.
POST.
REF. DEBIT CREDIT
1 1
2 2
3 3
Name Date Class
19-M MASTERY PROBLEM (concluded)
2
20X5
Jan. 6Accum. Depr.—Furniture R321 8 7 0 4 00 1 5 0 0 00
Furniture 10 0 0 0 00
Gain on Plant Assets 2 0 4 00
1
20X1
July 2Depreciation Expense—Equipment M112 2 0 0 0 00
Accumulated Depreciation—Equipment 2 0 0 0 00
23148_ch19_hr_561-604.indd 603 1/18/18 1:37 AM
19-C CHALLENGE PROBLEM (LO4, 5, 6, 11), p. 615
Calculating a partial year’s depreciation using the double declining-balance method
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:
Depreciation rate: Date bought:
Original cost:
Year Beginning Book
Value
Annual
Depreciation
Accumulated
Depreciation
Ending Book
Value
DEPRECIATION TABLE
DEPRECIATION TABLE
1 $3,000.00 $900.00 $ 900.00 $2,100.00
2 2,100.00 840.00 1,740.00 1,260.00
1 $4,800.00 $1,000.00 $1,000.00 $3,800.00
2 3,800.00 1,900.00 2,900.00 1,900.00
Extension Ladder
Double Declining-Balance
Apr. 2
5 years
$200.00
40%
$3,000.00
Power Sprayer
Double Declining-Balance
Jul. 24
4 years
$250.00
50%
$4,800.00