Acct 410 PPE Exercise

Acct 410 PPE Exercise - Acct 410 PP&E Additional Exercise...

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Acct 410 PP&E Additional Exercise Q1)From an accounting perspective, which of the following statements regarding depreciation is true? a. Depreciation attempts to reflect the current value of an asset. b. Depreciation is a source of cash. c. Depreciation is the allocation of an asset's cost to the periods benefited. d. All of the above statements are true. e. None of the above statements are true. Q2)A machine costing $48,000 had an estimated useful life of 5 years and a salvage value of $3,000 when purchased on January 3, Year 1. Required: Supply the missing information in the table below: Depreciation Accumulated Book Expense for Depreciation Value Method Year 1 on 12/31/Yr 1 on 12/31/Yr 1 Straight-Line ____________ ____________ ____________ Double Declining Balance ____________ ____________ ____________ Depreciation Accumulated Book Expense for Depreciation Value Method Year 2 on 12/31/Yr 2 on 12/31/Yr 2 Straight-Line ____________ ____________ ____________ Double Declining Balance ____________ ____________ ____________ Q3)
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This note was uploaded on 06/23/2008 for the course ACCT 410x taught by Professor Bonner during the Spring '06 term at USC.

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Acct 410 PPE Exercise - Acct 410 PP&E Additional Exercise...

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