acc201wa6aexcel - Student Name: Class: Problem 11-02...

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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, 2011 Balance Balance 12/31/2010 Increase Decrease 12/31/2011 Land (1) Land improvements Buildings (1) Machinery and equipment (2) Automobiles and trucks Leasehold improvements Explanation of Amounts: (1) Plant facility acquired from King 1/6/2011 - 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 7/1/2011: Invoice cost Delivery cost Installation cost Total acquisition cost Requirement 2: CORD COMPANY Depreciation and Amortization Expense For the Year Ended December 31, 2011 Land Improvements: Cost Straight-line rate Annual depreciation Depreciation on land improvements for 2011 Buildings: Book value, 1/1/2011 Building acquired 1/6/2011 Total amount subject to depreciation 150% declining balance rate Machinery and equipment: Balance, 1/1/2011 Straight-line rate Purchased on 7/1/2011 Depreciation for one-half year Depreciation on machinery and equipment for 2011 Automobiles and trucks: Book value, 1/1/2011 Deduct 1/1/2011 book value of truck sold on 9/30 Amount subject to depreciation 150% declining balance rate Automobile purchased, 8/30/2011 Depreciation for 2011 Truck sold on 9/30/2011 - depreciation Depreciation on automobiles and trucks Leasehold improvements: Book value, 1/1/2011 Amortization period, years Amortization of leasehold improvements for 2011 Total depreciation and amortization expense for 2011
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Given Data P11-02: CORD COMPANY Accumulated Plant Category Asset Amortization Land $175,000 $ - Buildings 1,500,000 328,900 Machinery and equipment 1,125,000 317,500 Automobiles and trucks
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This note was uploaded on 10/16/2011 for the course ACCOUNTING 201 taught by Professor Evans during the Spring '11 term at Thomas Edison State.

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acc201wa6aexcel - Student Name: Class: Problem 11-02...

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