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In the framework of auditing fixed assets, the following findings are found. You are asked to give an opinion whether an adjustment is needed or
In the framework of auditing fixed assets, the following findings are found. You are asked to give an opinion whether an adjustment is needed or should be included in the management letter. If necessary, specify the adjustment and suggestions for improvement for the management letter!
Purchased a piece of land for Rp. 100,000,000 in cash, including old buildings and trees. The old building was demolished and trees were cut down, which cost Rp 2,000,000. Old building materials and felled trees were sold and received Rp3,000,000 in cash Journal Entry made by the client: DR. Land Rp100,000,000 DR. Miscellaneous fees Rp. 2,000,000 CR. Other income Rp 3,000,000 CR. Cash Rp 99,000,000 2. A car with an acquisition price of Rp.30,000,000 and accumulated depreciation of Rp. 24,000,000 is sold for Rp. 8,000,000 in cash Journal Entry made by the client: DR. Cash Rp 8,000,000 CR. Vehicle Rp 8,000,000 3. Machines with an acquisition price of Rp 100,000,000 and accumulated depreciation of Rp 80,000,000 are exchanged for a new machine for Rp 150,000,000. The old machine was valued at Rp. 30,000,000, so the company had to pay the remaining cash in the amount of Rp. 120,000,000 Journal Entry made by the client: DR. New Machine Rp150,000,000 CR. Old Machine Rp 30,000,000 CR. Cash Rp 120,000,000 4. Factory Building with a bobk value of IDR400,000,000 and market price of Rp 600,000,000 insured with a sum of Rp 200,000,000 (type of insurance: fire) 5. The last inventory of fixed assets was carried out three years ago and the fixed assets were not given a code number
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