chapter 8 accounting for long-term assets解析.pptVIP

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chapter 8 accounting for long-term assets解析.ppt

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* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * 8-* LO 1 Determine how asset disposals affect financial statements. LO 5 8-* Asset Disposals（资产处置） On January 1, 2020, the van is sold for $4,500 cash. 8-* Graph of Depreciation Expense 8-* LO 1 Identify some of the tax issues that affect long-term operational assets. LO 6 8-* Income Tax Considerations The maximum depreciation currently allowed by tax law is computed using the modified accelerated cost recovery system (MACRS). （修正的加速资本回收制度）The rate of depreciation depends on the class life of the asset and the period in which we are calculating depreciation. There are currently six categories for property, excluding real estate. They are 3-year, 5-year, 7-year, 10-year, 15-year, and 20-year property. 8-* Income Tax Considerations Here are the tax rates for 5-year and 7-year property: Let’s assume our van is classified as 5-year property and calculate depreciation for our tax return. 8-* Income Tax Considerations Let’s assume our van is classified as 5-year property and calculate depreciation for our tax return. 8-* LO 1 Show how revising estimates affects financial statements. LO 7 8-* Revision of Estimates Estimates are revised when new information surfaces. Assume we purchased equipment on January 1, 2016, for $50,000 cash and estimated salvage value was $3,000. The equipment has an estimated useful life of eight years, and we use straight-line depreciation. ($26,500 – $3,000) ÷ 10 = $2,350 depreciation per year On January 1, 2020, after four years of depreciation, it was determined that the machine has a useful life of fourteen years. ($50,000 – $3,000) ÷ 8 = $5,875 depreciation per year 8-* LO 1 Explain how continuing expenditures for operational assets affect financial statements. LO 8 8-* Continuing Expenditures for Plant Assets（固定资产后续支出） Costs That Are Expensed（费用化支出）The cost of routine maintenance and minor repairs that are incurred to keep an asset in good working order are