TrishaRosano-Unit4-txtbookexercises-ACCT2

TrishaRosano-Unit4-txtbookexercises-ACCT2 - Practice...

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Unformatted text preview: Practice Exercise 101A Feb 13 13 Delivery Truck......................................1650 Cash................................................1650 Repairs and Maintenance Expense.......25 Cash................................................25 Practice Exercise 102A A. $82,000 ($88,000 $6,000) B. 5% = 1/5 C. $16,400 ($82,000/5 years) Practice Exercise 102B A. $268,000 ($316,000 $48,000) B. 40% = 1/40 C. $6,700 ($268,000/40 years) Problem 102A & 3 Item a. b. c. d. e. f. g. h. i. j. k. l. m. n. o. p. q. r. s. Total Land $3,000 400,000 10,000 12,800 3,900 (4,000) 17,500 Land Improvements Building Other Accounts $40,000 4,800 $9,000 $ 15,000 2,000 2,500 1,100 42,000 915,000 (4,000) $443,200 (800,000) $25,100 (400) $1,001,400 Since land used as a plant site does not lose its ability to provide services, it is not depreciated. However, land improvements do lose their ability to provide services as time passes and are therefore depreciated. ...
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TrishaRosano-Unit4-txtbookexercises-ACCT2 - Practice...

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