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tbch13 - CHAPTER 13 Investments in Noncurrent Operating...

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C HAPTER 13 Investments in Noncurrent Operating Assets—Utilization and Retirement M ULTIPLE C HOICE Q UESTIONS Theory/Definitional Questions 1 Purpose of depreciation 2 Depreciation as systematic and rational allocation 3 Information necessary to compute depletion per unit 4 Composite depreciation method 5 Determine fraction for fourth year under five-year SYD 6 Depreciation using SYD method 7 Assumptions of straight-line depreciation 8 DDB ignores salvage value 9 Reporting and disclosure requirements of assets/depreciation 10 Depreciation of natural resources 11 Considerations in determining useful life of intangible asset 12 Straight-line amortization recommended for intangible assets 13 Depreciation method that applies a uniform depreciation rate 14 Forty-year amortization for intangible assets if indefinite benefit 15 Theoretical support for accelerated depreciation 16 Effect of changing the estimate of an asset’s useful life 17 Productive output depreciation same as depletion 18 When sale of depreciable asset results in loss 19 The exchange of similar assets that involves a gain 20 Depreciation expense for the double-declining-balance method 21 Capitalization of legal fees to defend patents 22 Composite and group depreciation both use straight-line 23 Depreciation under productive output, SYD, and DDB-Comparison 24 The exchange of similar assets that involves a loss 25 Carrying amount of group assets upon retirement of one 26 Journal entry for trade of assets 27 MACRS and optional straight-line tax depreciation Computational Questions 28 Computation of DDB depreciation expense 29 Computation of DDB depreciation expense 30 Amortization of organizational costs 235
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236 Chapter 13 Investments in Noncurrent Operating Assets—Utilization and Retirement 31 Computation of DDB depreciation expense 32 Computation of cost of new product with trade-in 33 Computation of 150% DB accumulated depreciation balance 34 Amortization of trademark 35 Computation of cost of new product with exchange 36 Computation of SYD accumulated depreciation 37 Computation of SYD accumulated depreciation balance 38 Computation of SYD depreciation expense 39 Computation of gain/loss on disposition 40 Computation of SYD depreciation expense 41 Computation of SYD depreciation expense 42 Computation of value of truck on books 43 Computation of SYD depreciation expense 44 Straight-line depreciation expense 45 Computation of recognized profit on exchange 46 Straight-line depreciation expense with extension of life 47 SYD depreciation expense 48 Computation of straight-line depreciation expense 49 Life of assets under straight-line composite method 50 Computation of straight-line depreciation expense 51 Straight-line accumulated depreciation 52 SYD depreciation expense 53 DDB depreciation expense 54 Units-of-production depreciation expense 55 SYD depreciation and the exchange of assets 56 SYD depreciation and the exchange of assets 57 Computation of patent amortization expense 58
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