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ACCTSol82.pdf - 45 Award 1.00 point Helen's Corporation...

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45. Award: 1.00 point 46. Award: 1.00 point Helen's Corporation purchased factory equipment on July 1, 2015 for $48,000. It is estimated that the equipment will have a $6,000 residual value at the end of its 10-year useful life. The market value of the equipment is $55,000. Using the straight-line method of depreciation, after recording depreciation, the amount of accumulated depreciation at December 31, 2016 is: $4,200 $6,300 $2,100 $11,000 $9,800 ($48,000 - $6,000)/10 years = $4,200/year. In 2015 half year taken for total of $2,100 Total Accumulated Depreciation at end of 2016 is $4,200 +$2,100 = $6,300. Which of the following is not a capital expenditure? A complete overhaul of an air-conditioning system that increases the life of the system A tune-up of a company vehicle The cost of installing a piece of equipment The addition of a building wing None of the other alternatives are correct
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47. Award: 1.00 point 48. Award: 1.00 point On August 1, 2015, Toy Inc. purchased a new piece of equipment that cost $25000. The estimated
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