Session 13

1
Session 13Inventory Fixed Asset Transfers

• Three key templates
• Inventory Analysis
• Asset Transfer Analysis
• Depreciable Basis Analysis

2
Inventory Analysis

• Total Resold On-hand
• Sales
• COGS ______ ______ _______
• Profit ______ ______ _______

3
Asset Transfer Analysis

• Seller Buyer
• Selling Price
• Cost
• Accum. Depr. _____
• NBV _____ _____
• Deferred G/L _____
• Remaining Life _____
• Depr. Exp. _____ _____

4
Depreciable Basis Analysis

• Actual Old Basis Difference
• Cost
• Acc. Depr.
• Depr. Exp.

5
G/L Entry and Consolidation W/S Summary
Formed100 lt100 Acquired100 lt100 I/C Inventory Transfers I/C Asset Transfers
G/L Entries Excess cost amortization I/C profit deferral or recognition I/C gain deferral or recognition

Consolidation W/S Entries Basic Elim. Entry Basic Elim. Entry Basic Elim. Entry Basic Elim. Entry
I/C Recb. Payables I/C Recb. Payables I/C Recb. Payables I/C Recb. Payables
Unamort. EC(B/S Reclass) Inventory Basis(B/S Reclass) PPE Basis(B/S Reclass)
Amort. EC(PL Reclass) COGS Basis(PL Reclass) Depr. Exp. Basis(PL Reclass)
Beg. Acc. Depr. Elimination