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Exercise 23 of the bridge in production Installation and assembly costs of 1.300 Exercise 4: total parking fees of $6,000 from this venture * Costs of $2.000 fo for the equipment generated samples of product that were sold for 3500, years longer than the original estimate. Rewired Required Using the straight-line method, determine the annual depreciation expense for: (a) the period 1972 to 1981: (b) the period 1982 to 1999; and (c) the period 2000 to 2031 Property, Plant and Equipment Exercise 5: Exercise 3: for each truck are described below. is repayable when the bridge is completed. Details of interest received on the borrowings are a follows: Haddad Corporation operates a retail computer store. To improve delivery services to customers, the company purchases four new trucks on April 1, 20x9. The terms of acquisition 1. Truck #1 has a list price of $15,000 and is acquired for a cash payment of $13.900. 2. Truck #2 has a list price of $20,000 and is acquired for a down payment of $2,000 cash and a zero-interest-bearing note with a face amount of $18,000. The note is due April 1, 20x10. Haddad would normally have to pay interest at a rate of 10% for such a borrowing, and the dealership has an incremental borrowing rate of 8%. 3. Truck #3 has a list price of $16,000. It is acquired in exchange for a computer system that Haddad carries in inventory. The computer system cost $12,000 and is normally sold by Haddad for $15,200. Haddad uses a perpetual inventory system. 4. Truck #4 has a list price of $14,000. It is acquired in exchange for 1.000 ordinary shares in Haddad Corporation. The shares have a par value per share of $10 and a market price of $13 per share. Amount of interest received $220.000 Date 30 June 2016 30 June 2017 $160,000 $90,000 30 June 2018 30 September 2018 $15,000 4 Page 51 Page Dreember 2017 and January 2018 due to high water levels . Cessation of construction during Construction on the bridge is delayed for a total of three months in the wet season between On August 2018 Chelmer Lid acquired an item of equipment at a purchase price of 560.000 , the any season is common in Brisbane , although it had not occurred within the past five years hoose the city had suffered a significant drought . As a result of the delay , the completion date which included import duties of $ 2,700 . The following expenditures were incurred in relation 1. Prepare a schedule of the interest paid and received during the course of construction - When installing the cywiposent part of the factory wall was removed and access cleaned This resulted in a temporary clearing which the management of Chelmer Ltd rented out 2. Prepare general joumal entries for Clayfield Company to account for these transactions - Costs of staff training for $ 3.2 ) . The training was necessary to deal with a new In 1971 , Reliable Company completed the construction of a building at a cost of $ 2 million and class of customer to won the product from the new equipment would be sold 40 years and a residual value of $ 60.000 . Early in 1982 an addition to the building was first occupied it in January 1972. It was estimated that the building would have a useful life of . Costs of $ 100 to market the new product to be produced by the cquipment . The management of Chelmer Lid plans to measure the equipment using the cost model constructed at a cost of $ 500,000 . At that time it was estimated that the remaining life of the building would be as originally estimated and that the residual value was now $ 80,000 . In January 2000 it was decided that the probable life of the building and addition would be 20 equipment in accordance with the requirements of IAS 16 " Property . Plant and Equipment 1. Prepare any necessary general journal entry ( ies ) to record the acquisition of the 2. Tuo years later , the Government passed environmental protection legislation . To ensure that the equipment and another item of property , plant and equipment comply with ove how regulations , $ 20,000 is spent on the assets . Prepare any necessary general journal entryties ) to record this expenditure on the equipment in accordance with the requirements of IAS 16 On July 2014 , Clayfield Company borrosred $ 15 million at 6 % per annum to finance the construction of a bridge for the Brisbane City Council . It is estimated that the bridge will take three years to build and the scheduled completion date is 30 June 2018. The amount borrowed Is invested ar 3 % per annum until it is needed to finance the construction program . Interestis of the bridge was changed to 30 September 2018 to the equipment between 1 August and lo etuler 2018 , when the equipment was first used and events in accordance with the requirements of Borrowing Costs to empless from a carby office block as a temporary car park . Chelmer Ltd received ensure it functioned properly . These tests paid and received on 30 June each year and , if necessary , at the end of construction . The loan Exercise 23 of the bridge in production Installation and assembly costs of 1.300 Exercise 4: total parking fees of $6,000 from this venture * Costs of $2.000 fo for the equipment generated samples of product that were sold for 3500, years longer than the original estimate. Rewired Required Using the straight-line method, determine the annual depreciation expense for: (a) the period 1972 to 1981: (b) the period 1982 to 1999; and (c) the period 2000 to 2031 Property, Plant and Equipment Exercise 5: Exercise 3: for each truck are described below. is repayable when the bridge is completed. Details of interest received on the borrowings are a follows: Haddad Corporation operates a retail computer store. To improve delivery services to customers, the company purchases four new trucks on April 1, 20x9. The terms of acquisition 1. Truck #1 has a list price of $15,000 and is acquired for a cash payment of $13.900. 2. Truck #2 has a list price of $20,000 and is acquired for a down payment of $2,000 cash and a zero-interest-bearing note with a face amount of $18,000. The note is due April 1, 20x10. Haddad would normally have to pay interest at a rate of 10% for such a borrowing, and the dealership has an incremental borrowing rate of 8%. 3. Truck #3 has a list price of $16,000. It is acquired in exchange for a computer system that Haddad carries in inventory. The computer system cost $12,000 and is normally sold by Haddad for $15,200. Haddad uses a perpetual inventory system. 4. Truck #4 has a list price of $14,000. It is acquired in exchange for 1.000 ordinary shares in Haddad Corporation. The shares have a par value per share of $10 and a market price of $13 per share. Amount of interest received $220.000 Date 30 June 2016 30 June 2017 $160,000 $90,000 30 June 2018 30 September 2018 $15,000 4 Page 51 Page Dreember 2017 and January 2018 due to high water levels . Cessation of construction during Construction on the bridge is delayed for a total of three months in the wet season between On August 2018 Chelmer Lid acquired an item of equipment at a purchase price of 560.000 , the any season is common in Brisbane , although it had not occurred within the past five years hoose the city had suffered a significant drought . As a result of the delay , the completion date which included import duties of $ 2,700 . The following expenditures were incurred in relation 1. Prepare a schedule of the interest paid and received during the course of construction - When installing the cywiposent part of the factory wall was removed and access cleaned This resulted in a temporary clearing which the management of Chelmer Ltd rented out 2. Prepare general joumal entries for Clayfield Company to account for these transactions - Costs of staff training for $ 3.2 ) . The training was necessary to deal with a new In 1971 , Reliable Company completed the construction of a building at a cost of $ 2 million and class of customer to won the product from the new equipment would be sold 40 years and a residual value of $ 60.000 . Early in 1982 an addition to the building was first occupied it in January 1972. It was estimated that the building would have a useful life of . Costs of $ 100 to market the new product to be produced by the cquipment . The management of Chelmer Lid plans to measure the equipment using the cost model constructed at a cost of $ 500,000 . At that time it was estimated that the remaining life of the building would be as originally estimated and that the residual value was now $ 80,000 . In January 2000 it was decided that the probable life of the building and addition would be 20 equipment in accordance with the requirements of IAS 16 " Property . Plant and Equipment 1. Prepare any necessary general journal entry ( ies ) to record the acquisition of the 2. Tuo years later , the Government passed environmental protection legislation . To ensure that the equipment and another item of property , plant and equipment comply with ove how regulations , $ 20,000 is spent on the assets . Prepare any necessary general journal entryties ) to record this expenditure on the equipment in accordance with the requirements of IAS 16 On July 2014 , Clayfield Company borrosred $ 15 million at 6 % per annum to finance the construction of a bridge for the Brisbane City Council . It is estimated that the bridge will take three years to build and the scheduled completion date is 30 June 2018. The amount borrowed Is invested ar 3 % per annum until it is needed to finance the construction program . Interestis of the bridge was changed to 30 September 2018 to the equipment between 1 August and lo etuler 2018 , when the equipment was first used and events in accordance with the requirements of Borrowing Costs to empless from a carby office block as a temporary car park . Chelmer Ltd received ensure it functioned properly . These tests paid and received on 30 June each year and , if necessary , at the end of construction . The loan

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