Create journal at time of asset reclassification on december

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Reference no: EM132811416

PT Rolex has fixed assets that were acquired December 1, 2015 at a cost of Rp 100,000,000. The estimated residual value of these assets is Rp 10,000,000 and a useful life of 10 years.

As of December 1, 2018, the assets are classified as "Assets held for sale". The fair value is estimated at Rp 81,000,000 and the cost to sell is Rp 4,000,000. The asset was sold on June 30, 2019 at a price of Rp 77,000,000.

Asked to make a journal:

Problem a. At the time of asset reclassification on December 1, 2018

Problem b. When it was sold on June 30, 2019

Reference no: EM132811416

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