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Act102 Essay

  • Submitted by: executchef
  • on November 24, 2012
  • Category: Shakespeare
  • Length: 1,521 words

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Below is an essay on "Act102" from Anti Essays, your source for research papers, essays, and term paper examples.

EXERCISES
Ex. 9–1
a. New printing press: 1, 2, 3, 4, 5
b. Used printing press: 7, 8, 9, 10

Ex. 9–2
a. Yes. All expenditures incurred for the purpose of making the land suitable for
its intended use should be debited to the land account.
b. No. Land is not depreciated.

Ex. 9–3
Initial cost of land ($25,000 + $300,000) ....................
Plus: Legal fees ..........................................................
Delinquent taxes ...............................................
Demolition of building ......................................
Less salvage of materials ...........................................
Cost of land .................................................................

$325,000
$ 2,100
14,000
9,000

25,100
$350,100
3,500
$346,600

Ex. 9–4
Capital expenditures: 1, 2, 3, 4, 5, 8, 10
Revenue expenditures: 6, 7, 9

Ex. 9–5
Capital expenditures: 1, 2, 3, 4, 6, 10
Revenue expenditures: 5, 7, 8, 9

513
© 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly
accessible website, in whole or in part.

Ex. 9–6
Feb.

4 Accumulated Depreciation—Delivery Truck.....
Cash................................................................

4,300

6 Delivery Truck .....................................................
Cash................................................................

1,900

Sept. 10 Repairs and Maintenance Expense ...................
Cash................................................................

60

May

4,300
1,900
60

Ex. 9–7
a. No. The $7,500,000 represents the original cost of the equipment. Its replacement cost, which may be more or less than $7,500,000, is not reported in
the financial statements.
b. No. The $6,175,000 is the accumulation of the past depreciation charges on
the equipment. The recognition of depreciation expense has no relationship
to the cash account or accumulation of cash funds.

Ex. 9–8
(a)...

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  • Submitted by: executchef
  • on November 24, 2012
  • Category: Shakespeare
  • Length: 1,521 words
  • Views: 380
  • Popularity Rank: 310746
  • 1 rating(s)

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Act102. Anti Essays. Retrieved December 18, 2018, from the World Wide Web: http://snehaedu.com/free-essays/Act102-357219.html