This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: Version B 1. On which financial statement, and in which specific section will you find capitalized amounts that provide future benefits over more than one accounting period? Balance sheet in the long-term assets (or property, plant, and equipment section 2. Evans Inc. purchased a 12-year franchise from Applebees for $162,000 on September 30, 2010. How much is amortization on the income statement for 2010? Circle your answer. ($162,000/12) * 3/12 = $3,375 3. Use the information question 1, how much is the book value of the franchise at the end of 2011? Circle your answer. 2010 expense + 2011 expense = accumulated depreciation $3,375 + $13,500 = $16,875 Book value = $162,000 - $16,875 = $145,125...
View Full Document