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Chapter 10 Test

# Chapter 10 Test - 2100000 x 4/12 = \$700,000 2000000 x 0/12...

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!) Land 300000 0.33 x 855000 = 285000 900000 Warehouse 200000 0.22 x 855000 = 190000 900000 Office 400000 0.44 x 855000 = 380000 900000 Land \$285,000 Warehouse \$190,000 Office \$380,000 5) (48000+12000) Truck 66,000 New \$60,000 Acc Dep. -30,000 Book -\$36,000 Book 36,000 Gain \$24,000 12000 0.2 x 24000 = \$4,800 60000 6) FMV \$48,000 Total Gain Recognized Less def Gain -\$19,200 = \$24,000 -\$4,800 New Equip \$28,800 8) 1000000 x 6/12 = \$500,000

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Unformatted text preview: 2100000 x 4/12 = \$700,000 2000000 x 0/12 = \$0 \$1,200,000 Average Accumulated expenditure 9) Cost (Old) \$120,000 ACC. Dep.-\$90,000 Dep till April-\$5,000 = 20000 /12 = 1670 3 X 1670= 5010 Book \$25,000 FMV \$27,500 Gain \$2,500 10) Cost Of New \$135,000 Gain-\$2,500 Recorded @ \$132,500 Gain res...
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