Objective: To critically analyze the provided balance sheets and proposed depreciation schedules to ascertain the alignment between listed assets and their depreciation status. Identify discrepancies and provide an informed evaluation on whether the assets match their depreciation schedules or require further clarification.
Instructions:
1. Review of Balance Sheets:
• Examine the provided balance sheets thoroughly to identify listed assets and their corresponding depreciation schedules.
• Note down all assets and their respective depreciation values as per the provided schedules.
2. Comparison Analysis:
• Match each asset with its designated depreciation schedule. Evaluate if the depreciation method and rate applied align with the nature and expected useful life of the asset.
• Determine if there are discrepancies between the listed assets and their depreciation schedules.
• Consider the reasonableness of the proposed depreciation against the estimated useful life and salvage value of the assets.
3. Analysis and Explanation:
• For assets and depreciation schedules that align, provide a brief rationale supporting their matching status.
• For assets with discrepancies or questionable depreciation values:
• Explain the discrepancies observed and provide reasoning for any deviations from standard depreciation practices.
• Recommend any necessary adjustments or further information required to rectify the inconsistencies.
4. Conclusion:
• Summarize the findings, indicating whether the assets and depreciation schedules are appropriately aligned.
• Offer suggestions for improvements or additional information needed to ensure accurate and consistent depreciation accounting.
Summary 2023
VOXOX
Fixed Asset Summary
12/31/22
FIXED ASSETS
Accum Deprecitation
12/31/23
YTD Ending 12/31/23
12/31/23
YTD Ending 12/31/23
Balance
Addition
Disposal
Balance
Balance
Addition
Disposal
Balance
– 0
COMPUTER
45,971
2,783
– 0
48,753.66
37,944
1,560
– 0
39,504
FURNITURE AND FIXTURES
4,268
– 0
– 0
4,267.90
854
– 0
854
– 0
– 0
– 0
– 0
– 0
– 0
– 0
– 0
50,239
2,783
– 0
53,022
38,798
1,560
– 0
40,358
Assets 2023
VOXOX
Fixed Assets
FYE 12/31/23
Acct.#
Vendor
Date
Memo
Cost
Useful life (Years)
Ending Balance Accumulated Depreciation as of 12/31/18
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Nov-23
Dec-23
@ 12.31.23
YTD 12/31/23 Accum Depn
PER GL
Difference
COMPUTERS
Anything Gaming
09/30/2022
MSI Modern 15 B12M-013 15.6″ Laptop [i7-1255U][Intel Iris Xe][16GB DDR4][512GB SSD][Classic Blac…
1,200.15
7.00
– 0
$ 14.29
$ 14.29
$ 14.29
$ 14.29
$ 14.29
$ 14.29
$ 14.29
$ 14.29
$ 14.29
128.59
128.59
Telcentris Latin America S.A.
04/01/2022
Ken’s Laptop
1,582.53
7.00
– 0
$ 18.84
$ 18.84
$ 18.84
$ 18.84
$ 18.84
$ 18.84
$ 18.84
$ 18.84
$ 18.84
$ 18.84
$ 18.84
$ 18.84
226.08
226.08
$ 2,783
$ 14
$ – 0
$ – 0
$ – 0
$ 19
$ 19
$ 19
$ 33
$ 33
$ 33
$ 33
$ 33
$ 33
$ 33
$ 33
$ 33
$ 355
354.66
.
Summary 2022
VOXOX
Fixed Asset Summary
12/31/22
FIXED ASSETS
Accum Deprecitation
12/31/21
YTD Ending 12/31/22
12/31/21
YTD Ending 12/31/22
Balance
Addition
Disposal
Balance
Balance
Addition
Disposal
Balance
– 0
COMPUTER
45,971
2,783
– 0
48,753.66
37,944
1,206
– 0
39,150
FURNITURE AND FIXTURES
4,268
– 0
– 0
4,267.90
854
– 0
854
– 0
– 0
– 0
– 0
– 0
– 0
– 0
– 0
50,239
2,783
– 0
53,022
38,798
1,206
– 0
40,003
Assets 2022
Pretend Company
VOXOX
FYE 12/31/22
Acct.#
Vendor
Date
Memo
Cost
Useful life (Years)
Ending Balance Accumulated Depreciation as of 12/31/18
Jan-22
Feb-22
Mar-22
Apr-22
May-22
Jun-22
Jul-22
Aug-22
Sep-22
Oct-22
Nov-22
Dec-22
@ 12.31.22
YTD 12/31/22 Accum Depn
PER GL
Difference
COMPUTERS
Anything Gaming
09/30/2022
MSI Modern 15 B12M-013 15.6″ Laptop [i7-1255U][Intel Iris Xe][16GB DDR4][512GB SSD][Classic Blac…
1,200.15
7.00
– 0
$ 14.29
$ 14.29
$ 14.29
$ 14.29
$ 14.29
$ 14.29
$ 14.29
$ 14.29
$ 14.29
128.59
128.59
Telcentris Latin America S.A.
04/01/2022
Ken’s Laptop
1,582.53
7.00
– 0
$ 18.84
$ 18.84
$ 18.84
$ 18.84
$ 18.84
$ 18.84
$ 18.84
$ 18.84
$ 18.84
$ 18.84
$ 18.84
$ 18.84
226.08
226.08
$ 2,783
$ – 0
$ 19
$ 19
$ 19
$ 33
$ 33
$ 33
$ 33
$ 33
$ 33
$ 33
$ 33
$ 33
$ 355
$ – 0
$ 355
.
Summary 12.31.21
VOXOX
Fixed Asset Summary
12/31/21
FIXED ASSETS
Accum Deprecitation
12/31/20
YTD Ending 12/31/21
12/31/20
YTD Ending 12/31/21
Balance
Addition
Disposal
Balance
Balance
Addition
Disposal
Balance
– 0
COMPUTER
33,990
11,981
– 0
45,970.98
36,738
1,206
– 0
37,944
FURNITURE AND FIXTURES
4,268
– 0
– 0
4,267.90
854
– 0
854
– 0
– 0
– 0
– 0
– 0
– 0
– 0
– 0
38,258
11,981
– 0
50,239
37,592
1,206
– 0
38,798
Assets 2021
VOXOX
Fixed Assets
FYE 12/31/2021
Acct.#
Vendor
Date
Memo
Cost
Useful life (Years)
Ending Balance Accumulated Depreciation as of 12/31/2020
Jan-21
Feb-21
Mar-21
Apr-21
May-21
Jun-21
Jul-21
Aug-21
Sep-21
Oct-21
Nov-21
Dec-21
@ 12.31.21
YTD 12/31/21 Accum Depn
PER GL
Difference
1280
COMPUTERS
Ed Mallory
01/12/2021
Staci’s laptop
2,166.92
5.00
– 0
36.12
36.12
36.12
36.12
36.12
36.12
36.12
36.12
36.12
36.12
36.12
397.27
397.27
TIG
04/20/2021
Dell Latitude Laptop x2
3,208.75
5.00
– 0
53.48
53.48
53.48
53.48
53.48
53.48
53.48
53.48
427.83
427.83
Best Buy
04/30/2021
Laptop purchase – Bob
2,705.98
5.00
– 0
45.10
45.10
45.10
45.10
45.10
45.10
45.10
315.70
315.70
Ed Mallory
06/11/2021
Laptop for Ed
2,059.87
5.00
– 0
– 0
– 0
– 0
34.33
34.33
34.33
TIG
10/11/2021
Apple Macbook pro 13M1 8 Core GPU 16GB 512GB space gray
1,839.17
5.00
– 0
30.65
30.65
30.65
$ 11,981
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