Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta

تمرين 30

Volkswagen Group reports the following information for property, plant, and equipment as of December 31, 2013, along with additions, disposals, depreciation, and impairments for the year ended December 31, 2013 (euros in millions):

1. Prepare Volkswagen's journal entry to record its depreciation for 2013.
2. Prepare Volkswagen's journal entry to record its additions for 2013 assuming they are paid in cash and are treated as "betterments (improvements)" to the assets.
3. Prepare Volkswagen's journal entry to record its €2,362 in disposals for 2013 assuming it receives €700 cash in return and the accumulated depreciation on the disposed assets totals €1,162.
4. Volkswagen reports €118 of impairments. Do these impairments increase or decrease the Property, Plant and Equipment account By what amount