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Unformatted text preview: PROBLEM 91A PROBLEM 92A PROBLEM 93A PROBLEM 94A PROBLEM 95A PROBLEM 96A PROBLEM 97A *PROBLEM 98A CHAPTER 9 Reporting and Analyzing LongLived Assets Study Objectives 1. Describe how the cost principle applies to plant assets. 2. Explain the concept of depreciation. 3. Compute periodic depreciation using the straightline method, and contrast its expense pattern with those of other methods. 4. Describe the procedure for revising periodic depreciation. 5. Explain how to account for the disposal of plant assets. 6. Describe methods for evaluating the use of plant assets. 7. Identify the basic issues related to reporting intangible assets. 8. Indicate how longlived assets are reported in the financial statements. *9. Compute periodic depreciation using the decliningbalance method and the units ofactivity method. Summary of Questions by Study Objectives and Blooms Taxonomy Item SO BT Item SO BT Item SO BT Item SO BT Item SO BT Questions 1. 1 C 7. 2 K 13. 5, 8 C 19. 7 C 24. 6 C 2. 1 K 8. 3 C 14. 8 K 20. 7 K 25. 6 C 3. 1 K 9. 3 C 15. 7 C 21. 7 C 26. 6 C 4. 1 C 10. 4 C 16. 7 C 22. 6 AP 27. 6 C 5. 1 C 11. 4 C 17. 7 C 23. 6 C 28. 8 C. 6. 2 C 12. 5 K 18. 7 C Brief Exercises 1. 1 AP 4. 3 AN 7. 5 AP 10. 7 AP 13. 9* AP 2. 1 AP 5. 4 AP 8. 5 AP 11. 8 AP 14. 9* AP 3. 3 AP 6. 4 AP 9. 6 AP 12. 8 AP Do It! Review Exercises 1. 1 C 2. 2 AP 3. 5 AP 4. 6 C Exercises 1. 1 C 5. 3 AP 9. 1, 6, 7 C 13. 7 AN 17. 8 AN 2. 1 C 6. 3, 4 AN 10. 6 AP 14. 7 7 AN C 18. 9* AP 3. 1 AP 7. 5 5 AP AP 11. 6 AP 15. 19. 9* AP 4. 2 C 8 12. 6 AP 16. 2, 7 C Problems: Set A 1. 1 C 3. 5 AP 5. 7 AP 7. 3, 9* A 8. 3, 9* AP 2. 5, 8 AP 4. 7, 8 AP 6. 6 AN Problems: Set B 1. 1 C 3. 5 AP 5. 7 AP 7. 3, 9* A 8. 3, 9* AP 2. 5, 8 AP 4. 7, 8 AP 6. 6 AN ASSIGNMENT CLASSIFICATION TABLE Problem Number Description Difficulty Level Time Allotted (min.) 1A Determine acquisition costs of land and building. Simple 2030 2A Journalize equipment transactions related to purchase, sale, retirement, and depreciation. Moderate 4050 3A Journalize entries for disposal of plant assets. Simple 2030 4A Prepare entries to record transactions related to acquisition and amortization of intangibles; prepare the intangible assets section and note. Moderate 3040 5A Prepare entries to correct errors in recording and amortizing intangible assets. Moderate 1520 6A Calculate and comment on return on assets, profit margin, and asset turnover ratio. Moderate 1520 *7A Compute depreciation under different methods. Simple 3040 *8A Compute depreciation under different methods. Moderate 1520 1B Determine acquisition costs of land and building. Simple 2030 2B Journalize equipment transactions related to purchase, sale, retirement, and depreciation....
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 Fall '10
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