Quiz_10 - Acct-101 Quiz 10 Owner Identified Answers are shown Which of the following is included in the cost of constructing a building insurance

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Acct-101 Quiz 10 Owner Identified: Answers are shown Which of the following is included in the cost of constructing a building? insurance costs during construction cost of paving parking lot cost of repairing vandalism damage during construction cost of removing the demolished building existing on the land when it was purchased A used machine with a purchase price of $77,000, requiring an overhaul costing $8,000, installation costs of $5,000, and special acquisition fees of $3,000, would have a cost basis of $93,000 $90,000 $82,000 $85,000 The journal entry for recording an operating lease payment would be a memo entry only debit the fixed asset and credit Cash debit an expense and credit Cash debit a liability and credit Cash A machine with a cost of $80,000 has an estimated residual value of $5,000 and an estimated life of 5 years or 15,000 hours. It is to be depreciated by the units-of-production method. What is the amount of depreciation for the second full year, during which the machine was used 5,000 hours? $5,000
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This note was uploaded on 03/01/2010 for the course ACCT 2301 taught by Professor White during the Spring '08 term at Central Texas College.

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Quiz_10 - Acct-101 Quiz 10 Owner Identified Answers are shown Which of the following is included in the cost of constructing a building insurance

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