RESUME TUGAS AKUNTANSI

BAB 10
FIXED ASSETS

Disusun oleh :
SILVA NAJMI FITRIANA
153020009041
34 / 1-K

BAB 10
FIXED ASSETS
A.
-

NATURE OF FIXED ASSETS

Fixed assets dalam jangka panjang dapat menjadi asset yang

permanen, seperti mesin,
bangunan, tanah
plant assets / property, plant, and equipment
Ciri-ciri ada, berwujud, dimiliki dan digunakan untuk kegiatan operasi,
tidak dimaksud
untuk dijual kembali, bersifat jangka
panjang

THE COST OF FIXED ASSETS

1.
Building
2.
Machinery Equipment
3.
Land
4.
Land improvement
Cost necessary cost of the asset
Unenecessary cost assets usefulness expense

CAPITAL AND REVENUE EXPENDITURES

- Revenue expenditures cost that benefit only the current period

Capital expenditures cost that improve the asset or extend its useful life

1. ORDINARY MAINTENANCE AND REPAIR

-

Are recorded as an expense of the current period

Revenue expenditures increase repair and maintenance expense

2. ASSET IMPROVEMENT
-

After fixed asset has been placed in service, cost may be incurred to
improve the asset

3. EXTRAORDINARY REPAIRS
-

After a fixed assets has been placed in service, cost may be incurred to
extend yhe assers useful life

LEASING FIXED ASSETS

- Lease contract for the use of an asset for a period time
- Parties : lessor own the asset
-

Lesse whom the rights to use the asset

Lease contract
o Capital lease lease has purchased the asset
debit : the account for the fair market value
credit : a long term lease
o Operating lease lease is renting the asset for the lease team
debit : rent exp

credit : cash

B.
-

ACCOUNTING FOR DEPRECIATION

Fixed assets (exp land) lose their ability, over time, to provide services
Cost depreciation of fixed assets (equipment, building) record as
expense
debit depreciation exp
credit acc dep / allowance for dep
Factor physical dep : wear and tear during use / from exposure to
weather
functional dep : obsolescence and changes in customer needs

FACTORS IN COMPUTING DEPRECIATION EXPENSE

- Factors the assets is initial cost
expected useful life : at the time the asset is placed
into service
estimated residual value : at the end of the time the
asset placed into
service
: scrap value = savage value =
trade in value
- Depreciable cost = fixed assets initial cost residual value

1. Straight Line Method

- Provides for the same amount of dep exp for each year off the assets
useful life
-

annual dep=

cost residual value

useful life

annul dep

n
=first year dep
12

2. Units of Production Method

- Provides the same amount of dep exp for each unit of production
cost residual value
Dep per unit=
total units of productio
dep exp=dep per unit t otal units of production used

3. Double Declining Method

- Provides for a declining periodic exp over the expected useful life
- Step :
100
1.) Straight line percentage = expected useful life
2.) Double declining balance rate = step 1.) x straight line rate
3.) Depreciation exp = step 2.) x book value of the asset

COMPARING DEPRECIATON METHODS

Method
Straight
line

Years

Units of
productio
n

Total
units of
productio
n
Years

Double
declining
balance

Useful
Life

Deprecia
ble Cost

Depreciation Rate

Cost less
resisual
value
Cost less
residual
value

straight line rate

Declining
book
value, but
not below
residual
value

Straight line rate x 2

Depreciat
ion
Expese
Constant

Variable
costresidual value
total units of production
Declining

DEPPRECIATION FOR FEDERAL INCOME TAX

- The internal revenue code use modified accelerated cost recovery
-

system (MACRS) to compare depreciation for tax purpose

MACRS 8 class, useful life and dep rates for each class
5 year class : automobiles and light duty trucks
7 year class : machinery and eqiopment
residual value is ignored

C.DISPROPOSAL OF FIXED ASSETS

DISCARDING FIXED ASSETS

- If a fixed asset is no longer used and has no residual value

- e.g : fixed asset that is fully depreciated and has no residual value

SELLING FIXED ASSETS

- Entry to record the sale of a fixed asset = the entries for discarding an
-

asset
Selling price > book value of asset gain
Selling price < book value of asset loss

NATURAL RESOURCES

- Depletion process of transferring the cost of natural resources to an

expense account

- 1.

Depletonrate=

cost of resources
estimated total units of resources

2. Depletion expense = Depletion rate x Quantity extracted

INTANGIBLE ASSETS
- Patent, copyrights, trademark, goodwill not exist physically intangible
assets issueinitial cost / amortization

N
o
1

Intangible
Asset
Patent

Copyright

Trademark

Goodwill

Depreciation
Exclusive right to
benefit from an
innovation
Exclusive right to
benefit from a
literary, artistic, a
musical
compassion
Exclusive use of a
name, term, or
symbol
Excess of purchase
price of a business
over the fair value
of net assets

Amortization
Period
Estimated useful life
not to exceed legal
life
Estimated useful life
not to exceed legal
life

Periodic
Expense
Amortization
exp

None

Fair value less

than carrying
value
Impairment loss
if fair value less
than carrying
value

None

Amortization
exp