ACCTSol82.pdf

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

• Homework Help
• 2
• 100% (2) 2 out of 2 people found this document helpful

This preview shows pages 1–2. Sign up to view the full content.

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

This preview has intentionally blurred sections. Sign up to view the full version.

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
This is the end of the preview. Sign up to access the rest of the document.
• One '14
• Depreciation, Expense, Generally Accepted Accounting Principles, Toy Inc.

{[ snackBarMessage ]}

### What students are saying

• As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

Kiran Temple University Fox School of Business ‘17, Course Hero Intern

• I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

Dana University of Pennsylvania ‘17, Course Hero Intern

• The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

Jill Tulane University ‘16, Course Hero Intern