ASISTENSI AKUNTANSI KEUANGAN 1

PERTEMUAN 8
Oleh: Tim Asisten Dosen
PROBLEM 1
a. Machinery purchased for Rp 52.000 by PT Akuntansi in 2010 was originally estimated to
have a life of 8 years with a residual value Rp 4.000 at the end of that time. Depreciation
has been entered for 5 years on this basis. In 2015, it is determined that the total estimated
life should be 10 years with a residual value of Rp 4.500 at the end of that time. Assume
straight line depreciation.
Instructions
1. Prepare the entry to correct the prior years depreciation, if necessary.
2. Prepare the entry to record depreciation for 2015.
b. PT Makara has equipment that is comprised of five components (in $000).
Component
A
B
C
D
E

Cost
40,500
33,600
36,000
19,000
23,500

Estimated Residual
5,500
4,800
3,600
1,500
2,500

Estimated Life
10
9
8
7
6

Instructions
1. Prepare the adjusting entry necessary at the end of the year to record depreciation for
the year. Assume PT Makara uses straight line depreciation.
2. Prepare the entry to record the replacement of Componen B for cash of $ 40.000. It
was used for 6 years.

PROBLEM 2
Presented below is information related to equipment owned by PT Kopetri at December 31, 2014
(in $).

Cost

9.000.000

Acc. Depreciation to date

1.000.000

Value in use

7.000.000

Fair Value less cost of disposal

4.400.000

Assume that PT Kopetri will continue to use this asset in the future. As of December 31, 2014,
the equipment has a remaining useful life of 4 years.
Instructions
a. Prepare the journal entry (if any) to record the impairment of the asset at December 31,
2014.
b. Prepare the journal entry to record depreciation expense for 2015.
c. The recoverable amount of the equipment at December 31, 2015 is $ 7.050.000. prepare
the journal entry (if any) necessary to record this increase.
PROBLEM 3
Part A
PT ABC acquired equipment on January 2010 for Rp 1,200,000,000. ABC elects to value this
class of equipment using revaluation accounting. This equipment is being depreciated on SLM
over its 6-year useful life. There is no residual value at the end of the 6-year period.
ABC has the following information related to the equipment. (Assumed the estimated useful life
and residual value doesnt change during the period presented below:
Date
Dec 31, 2010
Dec 31, 2011
Dec 31, 2012

Fair Value (in 000 Rp)

Approximates the carrying amount
900,000
660,000

Instructions:
Prepare the journal for 2011 and 2012 related to the equipment!
Part B
On 1 January 20X1, the management decided to use cost model for its Rp 840,000 machines and
estimated the useful life of the machine as 10 years with residual value as nil. Furthermore,

management believed that the straight-line method reflects the pattern in which it expects to
consume the machines future economic benefits.
At the entitys 31 December 20X3 financial year-end managements assessments of the machine
changed. It now estimates the useful life of the machine as 7 years (measured from the date of
acquisition) and its residual value as $56,000. Management continues to believe that the straightline method reflects the pattern in which it expects to consume the machines future economic
benefits.
On 1 January 20X4, because of the change in market and economic condition, the market price
of this type of machine increase significantly, therefore the management change the model used
and decided to use revaluation model for its machine. Based on valuer report, the management
determined the fair value of the machine is $700,000. The estimated the useful life of the
machine remain the same as determined at year end 20X3, with residual value of $100,000.
Furthermore, management continues to believe that the straight-line method reflects the pattern
in which it expects to consume the machines future economic benefits.
Instructions:

a. How must the entity account for the revised assessment of the machine in the year ended
b.

31 December 20X3?
How must the entity account for the changed to revaluation model in the year ended 31
December 20X4 (including depreciation expense for the year)?