Chapter 11 - Student Name: Class: Problem 11-02 Requirement...

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Student Name: Class: Problem 11-02 Requirement 1: CORD COMPANY Analysis of Changes in Plant Assets For the Year Ending December 31, 2009 Balance Balance 12/31/2008 Increase Decrease 12/31/2009 Land (1) Land improvements Buildings (1) Machinery and equipment (2) Automobiles and trucks Leasehold improvements Explanation of Amounts: (1) Plant facility acquired from King 1/6/2009 - allocation to Land and Building: Shares Market price Fair value of shares Allocation in proportion to appraised values at date of exchange: Amount % of Total Allocation Land Building (2) Machinery and equipment purchased 7/1/2009: Invoice cost Delivery cost Installation cost Total acquisition cost
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Student Name: Class: Problem 11-02 Requirement 2: CORD COMPANY Depreciation and Amortization Expense For the Year Ended December 31, 2009 Land Improvements: Cost Straight-line rate Annual depreciation Depreciation on land improvements for 2009 Buildings: Book value, 1/1/2009 Building acquired 1/6/2009 Total amount subject to depreciation 150% declining balance rate Machinery and equipment: Balance, 1/1/2009 Straight-line rate Purchased on 7/1/2009 Depreciation for one-half year Depreciation on machinery and equipment for 2009 Automobiles and trucks: Book value, 1/1/2009 Deduct 1/1/2009 book value of truck sold on 9/30 Amount subject to depreciation 150% declining balance rate Automobile purchased, 8/30/2009 Depreciation for 2009 Truck sold on 9/30/2009 - depreciation Depreciation on automobiles and trucks Leasehold improvements: Book value, 1/1/2009 Amortization period, years Amortization of leasehold improvements for 2009 Total depreciation and amortization expense for 2009
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Given Data P11-02: CORD COMPANY Accumulated Plant
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Chapter 11 - Student Name: Class: Problem 11-02 Requirement...

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