Selected Answers to Homework for Chapter 9

Selected Answers to Homework for Chapter 9 -...

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Selected Answers to Homework Assignment                                 Chapter 9 BRIEF EXERCISE 9-3 The depreciable cost is $27,000 ($31,000 – $4,000). With a 5-year useful life, annual depreciation is $5,400 ($27,000 ÷ 5). Under the straight-line method, depreciation is the same each year. Thus, depreciation is $5,400 for both the first and second years. BRIEF EXERCISE 9-10 (a) Amortization Expense—Patent ($150,000 ÷ 5). ....... 30,000 Patent. ................................................................. 30,000 (b) Intangible Assets Patent (Net of $30,000 of amortization). .......... $120,000 EXERCISE 9-3 (a) Cost of land Cash paid. .................................................................... $80,000 Net cost of removing warehouse ($8,200 – $1,700). ... 6,500 Attorney’s fee. ............................................................. 1,500
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Selected Answers to Homework for Chapter 9 -...

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