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    INTERMEDIATEACCTG

    Uploaded by

    Ray Allen Uy
    This document contains multiple accounting problems and associated data. Problem 1 lists included and excluded items. Problem 3 provides inventory data comparing different costing methods. Problem 7 gives appraisal values for land and buildings in 2018 and 2020. The document also provides property, plant and equipment data including acquisition costs, accumulated depreciation, and depreciation expense amounts for various years and depreciation methods.

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    INTERMEDIATEACCTG

    Uploaded by

    Ray Allen Uy
    36 views2 pages
    This document contains multiple accounting problems and associated data. Problem 1 lists included and excluded items. Problem 3 provides inventory data comparing different costing methods. Problem 7 gives appraisal values for land and buildings in 2018 and 2020. The document also provides property, plant and equipment data including acquisition costs, accumulated depreciation, and depreciation expense amounts for various years and depreciation methods.

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    intermediate accounting

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    This document contains multiple accounting problems and associated data. Problem 1 lists included and excluded items. Problem 3 provides inventory data comparing different costing methods. Problem 7 gives appraisal values for land and buildings in 2018 and 2020. The document also provides property, plant and equipment data including acquisition costs, accumulated depreciation, and depreciation expense amounts for various years and depreciation methods.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    36 views2 pages

    INTERMEDIATEACCTG

    Uploaded by

    Ray Allen Uy
    This document contains multiple accounting problems and associated data. Problem 1 lists included and excluded items. Problem 3 provides inventory data comparing different costing methods. Problem 7 gives appraisal values for land and buildings in 2018 and 2020. The document also provides property, plant and equipment data including acquisition costs, accumulated depreciation, and depreciation expense amounts for various years and depreciation methods.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    PROBLEM 1

    1. Excluded
    2. Excluded
    3. Included
    4. Included
    5. Excluded

    PROBLME 2 P1,253,400

    PROBLEM 3

    Cost of Goods
    Available for sale Inventory Cost Gross profit
    a, FIFO periodic P142,800 P56,550 P86,250 P30,750
    b. FIFO perpetual 142,800 56,550 86,250 30,750
    c. Simple Average 142,800 48,587.50 94,212.50 22,787.50
    d. Weighted Average 142,800 48,853 93,147 23,853
    e. Moving Average 148,800 54,509 87,491 29,509

    PROBLEM 3

    Item Cost NRV Market


    1 P40.00 P42.00 P40.00
    2 29.00 25.00 25.00
    3 72.00 88.00 72.00
    4 55.00 68.50 55.00
    5 25.00 26.00 25.00
    6 40.00 37.50 37.50
    7 16.00 12.00 12.00
    8 35.00 32.00 32.00
    9 70.00 80.00 70.00
    10 12.00 11.00 11.00
    11 6.00 7.00 6.00
    12 15.00 12.00 12.00
    13 5.00 8.50 5.00
    14 40.00 48.00 40.00

    PROBLEM 4- P172,300 PROBLEM 7


    a. P715,000
    PROBLEM 6 – a. P86,000 b. P740,235
    b. P62,867 c. P725,010
    PROPERTY, PLANT AND EQUIPMENT

    PROBLEM 1 PROBLEM 7
    a. P4,905,500 2018 Appraised value – P3,240,000
    b. P405,000 2018 Revaluation surplus -P648,000
    c. P1,000,000 2020 Appraised value – P1,620,000
    d. P1,325,900 2020 Revaluation surplus – P-0-
    e. P7,500,000
    f. P860,000
    g. P880,388
    h. Land – P4,848,000
    Bldg – P6,060,000
    Eqpt – P1,212,000

    PROBLEM 2
    Land - P3,360,000
    Bldg – P2,240,000
    Eqpt – P1,400,000

    PROBLEM 3 2019 2020 .


    COST P2,900,000 P3,521,751
    AVE. ACC. EXP. P1,850,000 P3,260,000
    CAPITALIZED INTEREST P 320,000 P 81,751

    PROBLEM 4 PROBLEM 5 YEAR 1 YEAR 2


    1. P1,585,000 1. Straight line P300,000 P300,00
    2. P150,750 2. SYD P545,455 P490,910
    3.DDB P600,000 P480,000

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