SOAL 4 - Revaluasi (Revaluation)

INFO: Bangunan/Building $ 775,000 (Straight-Line Method)

Peralatan dibeli pada 1-Jul-19
Umur manfaat/Useful Life 10 years
Nilai Residu/Residual Value $ 25,000

Informasi atas Nilai Wajar Bangunan

Date Fair Value
1-Jul-19 $ 775,000
31-Dec-20 $ 700,750
31-Dec-22 $ 503,400

a. Journals for December 31, 2019; 2020; 2021; 2022

MODEL BIAYA (COST MODEL)
Annual Depreciation Expense: $ 75,000

31-Dec-19 Depreciation Expense $ 37,500

Acc. Depr - Building $ 37,500

31-Dec-20 Depreciation Expense $ 75,000

Acc. Depr - Building $ 75,000

31-Dec-20 No Entry for Adjustment to Fair Value

31-Dec-21 Depreciation Expense $ 75,000

Acc. Depr - Building $ 75,000

31-Dec-22 Depreciation Expense $ 75,000

Acc. Depr - Building $ 75,000
b. Amounts reported in Financial Report as of December 31, 2019, 2020, 2021, and 2022:
MODEL BIAYA (COST MODEL)
1) As of December 31, 2019:
Building $ 775,000
Less: Acc. Depre - Building $ (37,500)
Acc. OCI $ -

for the period ended in Dec 31, 2019:

Depreciation Expense $ (37,500)
Surplus Revaluation $ -

2) As of December 31, 2020:

Building $ 775,000
Less: Acc. Depre - Building $ (112,500)
Acc. OCI $ -

for the period ended in Dec 31, 2020:

Depreciation Expense $ (75,000)
Surplus Revaluation $ -

3) As of December 31, 2021:

Building $ 775,000
Less: Acc. Depre - Building $ (187,500)
Acc. OCI $ -

for the period ended in Dec 31, 2021:

Depreciation Expense $ (75,000)
Surplus Revaluation $ -

4) As of December 31, 2022:

Building $ 775,000
Less: Acc. Depre - Building $ (262,500)
Acc. OCI $ -

for the period ended in Dec 31, 2022:

Depreciation Expense $ (75,000)
Loss on Revaluation $ -
Surplus Revaluation $ -

c. Sales of the building on July 1, 2023 at $470,000

MODEL BIAYA (COST MODEL)
As of December 31, 2022: (AFTER)
Building $ 775,000
Acc. Depre - Building $ (262,500)
Book Value/Carrying Amount $ 512,500
 Umur Manfaat Sisa/Remaining Useful Life 6.5 (10 - 3.5) --> half 2019, 2020 - 2022
NEW Annual Depreciation Expense $ 75,000

1-Jul-23 Depreciation Expense $ 37,500

Acc. Depr - Building $ 37,500

As of July 1, 2023:
Building $ 775,000
Acc. Depre - Building $ (300,000)
Book Value/Carrying Amount $ 475,000
Selling Price $ 470,000
Loss on Sale of Building $ -5,000

1-Jul-23 Cash $ 470,000

Acc. Depr - Building $ 300,000
Loss on Sale of Building $ 5,000
Building $ 775,000
PENGUKURAN LANJUTAN (SUBSEQUENT MEASUREMENT)
memiliki 2 model:
1) Model Biaya (Cost Model)
--> tidak mengakui adanya peningkatan nilai wajar / do not recognize the surplus revaluation
--> mengakui adanya kerugian penurunan nilai / recognize the impairment loss immediately

2) Model Revaluasi (Revaluation Model)

--> mengakui adanya peningkatan nilai wajar / recognize the surplus revaluation
--> mengakui adanya kerugian penurunan nilai / recognize the impairment loss immediately
--> terdapat 2 metode: eliminasi dan proporsional --> yang akan dipelajari eliminasi.

MODEL REVALUASI (REVALUATION MODEL)

Annual Depreciation Expense: $ 75,000

31-Dec-19 Depreciation Expense $ 37,500

Acc. Depr - Building $ 37,500

31-Dec-20 Depreciation Expense $ 75,000

Acc. Depr - Building $ 75,000

As of December 31, 2020: (BEFORE)

Building $ 775,000
Acc. Depre - Building $ (112,500)
Book Value/Carrying Amount $ 662,500
Fair Value $ 700,750
Surplus Revaluation $ 38,250

31-Dec-20 Acc. Depr - Building $ 112,500 31-Dec-20

Building $ 74,250
Surplus Revaluation - OCI $ 38,250

As of December 31, 2020: (AFTER)

Building $ 700,750 (eliminasi)
Acc. Depre - Building $ -
Book Value/Carrying Amount $ 700,750
Residual Value $ -25,000
Depreciable amount baru $ 675,750
Umur Manfaat Sisa/Remaining Useful Life 8.5 (10 - 1.5) --> half 2019 & 2020

NEW Annual Depreciation Expense $ 79,500

31-Dec-21 Depreciation Expense $ 79,500

Acc. Depr - Building $ 79,500

31-Dec-22 Depreciation Expense $ 79,500

Acc. Depr - Building $ 79,500

As of December 31, 2022: (BEFORE) As of December 31, 202

Building $ 700,750 Building
Acc. Depre - Building $ (159,000) Acc. Depre - Building
Book Value/Carrying Amount $ 541,750 Book Value/Carrying Am
 Fair Value $ 503,400 Umur Manfaat Sisa/Rem
Changes in Revaluation $ 38,350 penuruan
Acc. OCI $ 38,250 NEW Annual Depreciatio
Revaluation Loss incurred $ 100

31-Dec-22 Loss on Revaluation $ 100

Acc. OCI $ 38,250
Acc. Depr - Building $ 159,000
Building $ 197,350

2021, and 2022:

MODEL REVALUASI (REVALUATION MODEL)
1) As of December 31, 2019:
Building $ 775,000
Less: Acc. Depre - Building $ (37,500)
Acc. OCI $ -

for the period ended in Dec 31, 2019:

Depreciation Expense $ (37,500)
Surplus Revaluation $ -

2) As of December 31, 2020:

Building $ 700,750 (eliminasi)
Less: Acc. Depre - Building $ -
Acc. OCI $ 38,250

for the period ended in Dec 31, 2020:

Depreciation Expense $ (75,000)
Surplus Revaluation $ 38,250

3) As of December 31, 2021:

Building $ 700,750
Less: Acc. Depre - Building $ (79,500)
Acc. OCI $ 38,250

for the period ended in Dec 31, 2021:

Depreciation Expense $ (79,500)
Surplus Revaluation $ -

4) As of December 31, 2022:

Building $ 503,400 (eliminasi)
Less: Acc. Depre - Building $ -
Acc. OCI $ -

for the period ended in Dec 31, 2022:

Depreciation Expense $ (79,500)
Loss on Revaluation $ (100)
Surplus Revaluation $ -

MODEL REVALUASI (REVALUATION MODEL)

As of December 31, 2022: (AFTER)
Building $ 503,400
Acc. Depre - Building $ -
Book Value/Carrying Amount $ 503,400
Residual Value $ -25,000
Depreciable amount $ 478,400
--> half 2019, 2020 - 2022 Umur Manfaat Sisa/Remaining Useful Life 6.5 (8.5 - 2) --> 2021 & 2022
NEW Annual Depreciation Expense $ 73,600

1-Jul-23 Depreciation Expense $ 36,800

Acc. Depr - Building $ 36,800

As of July 1, 2023:
Building $ 503,400
Acc. Depre - Building $ (36,800)
Book Value/Carrying Amount $ 466,600
Selling Price $ 470,000
Gain on Sale of Building $ 3,400

1-Jul-23 Cash $ 470,000

Acc. Depr - Building $ 36,800
Building $ 503,400
Gain on Sale of Building $ 3,400
 Surplus Revaluation - OCI $ 38,250
Acc. OCI $ 38,250

As of December 31, 2022: (AFTER)

$ 503,400 (eliminasi)
Acc. Depre - Building $ -
Book Value/Carrying Amount $ 503,400
Umur Manfaat Sisa/Remaining Useful Life 6.5 (8.5 - 2) --> 2021 & 2022

NEW Annual Depreciation Expense $ 73,600.00