Scribd
Upload
76 views2 pages

10 Lecture 10 PPE NOTE

The document provides ledger entries for plant and machinery, vehicles, machinery, and office furniture asset accounts for the years ending December 31, 2009 and December 31, 2019. It then requests a note or disclosure of property, plant and equipment (PPE) or a fixed asset schedule to be prepared based on the ledger information provided.

Uploaded by

manadish nawaz
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
76 views2 pages

10 Lecture 10 PPE NOTE

The document provides ledger entries for plant and machinery, vehicles, machinery, and office furniture asset accounts for the years ending December 31, 2009 and December 31, 2019. It then requests a note or disclosure of property, plant and equipment (PPE) or a fixed asset schedule to be prepared based on the ledger information provided.

Uploaded by

manadish nawaz
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 2

CAF-05 Property, Plant and Equipment (Lecture 10)

Question-1
Dr. Plant and Machinery A/C Cr.
1.1.09 b/d 500,000 1.3.09 Disposal 190,000
1.5.09 Cash 90,000
1.9.09 Cash 120,000 31.12.09 c/d 520,000
Dr. Accumulated Depreciation – P and M A/C Cr.
Disposal (W-2) 30,083 1.1.09 b/d 170,000
31.12.09 c/d 184,084 Dep. Exp (W-1) 44,167
Dr. Vehicle A/C Cr.
1.1.09 b/d 900,000 1.6.09 Disposal 40,000
31.12.09 c/d 860,000
Dr. Accumulated Dep. A/C - Vehicle Cr.
1.6.09 Disposal 11,000 1.1.09 b/d 300,000
31.12.09 c/d 376,667 Dep. Exp 87,667

Required: Prepare a note of PPE / disclosure of PPE / fixed asset schedule from the above ledgers.
Solution # 1:
CAF-05 Property, Plant and Equipment (Lecture 10)
Question-2
Dr. Machinery account – At cost Cr.
1.1.2019 b/d 52,950 Disposal 2,800
1.3.2019 Cash 2,480 31.12.19 c/d 52,630
Dr. Machinery account – Accumulated depreciation a/c Cr.
Disposals (W-2) 887 1.1.19 b/d 28,350
31.12.19 c/d 32,708 Depreciation (W-1) 5,245
Dr. Office furniture account – At cost Cr.
1.1.2019 b/d 2,860
1.3.2019 Cash 320 31.12.19 c/d 3,180
Dr. Office furniture account – Accumulated depreciation a/c Cr.
1.1.19 b/d 1,490
31.12.19 c/d 1,646 Depreciation (W-3) 156
Required: Prepare a note of PPE / disclosure of PPE / fixed asset schedule from the above ledgers.
Solution # 2:

You might also like