Task 1
Asset number (code): RH 9254
Asset Name : Desktop computer
Description and : Compaq NX 3100
Model
Serial Number : c/2002/85957741854
Location : Reception
Cost : $ 31, 00
Asset number (code): RH 3250
Asset Name : Car
Description and : Toyota Camry
Model
Serial Number : T/2005/5869
Location : Car park
Cost : $ 23,000
Asset number (code): RH 100
Asset Name : television
Description and : LG HD LCD TV
Model
Serial Number : L/2008/84589566
Location : Reception
Cost : $ 15, 00
Calculation of depreciation in straight line method
Desk top Computer
The company had fixed a depreciation value of $620 for every year
So that the residual value of the computer after 3 years will be
$ 3,100-(620*3) =$1,240
Calculation using diminishing balance method
Purchase value of the car = $23,000
year / Basis for calculation / Amount of depreciation / Diminished balance1 / 20% of $23,000 / $46,00 / $23,000-$4,600=$18,400
2 / 20% of $18,400 / $3,680 / $18,400-$3,680=$14,720
3 / 20% of $14,720 / $2,944 / $14,720-$2,944=$11,776
4 / 20% of $11,776 / $2,355.2 / $11,776-$2.355.2=$9,420
Residual value after 4 years will be / $9,420
Task part 2
Pro forma of inspection
Location
Area
Made
Model
Purchase date
Who is using the asset/ in charge of that assets
Last service
Next service
Present value of the asset
Os it should be maintained or disposed
On basis of the above assets register it is found that the assets are not properly maintained. A notice has been issued for enquiry of why it was not maintained. After inspection the property the only maintenance is done to the car is just of a minor service, computer should be serviced immediately. The car should be given for an immediate service and make sure that the interior of the car is clean that would make an impression to the customers. The car is been parked in the car park of the hotel itself and the condition was satisfactory except the above mentioned. The safety is maintained highly. The service for the computers should be also done immediately and some of the important software should be re-installed and there is a strong recommendation to install new computer in the front desk. The performance was not too good to be put in front of the computer because of its was been a old model. So getting an impression from the customers it should be a new one in the front.
Notice to the maintenance staff
Maintenance staffs are advice to give all the details that u had been done in the last two months. You are also requested to give a detailed description of the work area that you are covering and the area of specialization. If any area that was not covered under the maintenance staff of the firm it should be given out for work, there should a be a regular meeting for all the maintenances staff in every first Monday and third Monday of every month at the level 3 meeting hall. The agenda of the meeting is
· Services
· Maintenance
· Replacement
· Outsourcing
· Purchase
Asset Name : Car
Description : Toyota Camry
Made : 2005
Location : Car park
Last service : 15/03/2009
Next service : after 2500 kms/15/05/2009
Incident report : car hit on another car causing small damage to
Front bumper
Date of incident : 25/03/2009
Supplier detail : Lemans Toyota
Task 3
Jan / Feb / Mar / Apr / May / June / July / Aug / Sept / Oct / Nov / Decvehicle / $17,500 / Car insurance
$1,200 / $17,500
computer / $15,000
insurance / Car
$1,200 / computer
$300
Improvement / $7,000
Total expense: $57,000.00
· Vehicles should be purchased newly to improve the transportation facility of the customers
· Computers should be newly installed for the good performance in front office for reservation and check out purpose
· Toilets facilities for the staffs should be improved because facilities of the employees should be given high priority
· The funds should be raised from the purchase account and it can be termed as asset
· The insurance will be like
Car: full cover insurance
Computer: general insurance