solutions+chap+10 - CHAPTER 10 Capital Assets ASSIGNMENT...

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CHAPTER 10 Capital Assets ASSIGNMENT CLASSIFICATION TABLE Study Objectives Questions Brief Exercises Exercises Problems Set A Problems Set B 1. Distinguish between tangible and intangible capital assets. 1 1 2. Demonstrate the application of the cost principle to property, plant, and equipment specifically, and to capital assets in general. 2, 3, 4, 5, 6 2, 3, 4 1, 2, 7 1, 9 1, 2, 3, 9 3. Explain the concept of, and be able to calculate, amortization. 7, 8 4. Calculate periodic amortization using different methods. 9, 10 5, 6, 7 3, 4, 7, 9, 11, 12 2, 3, 6, 7, 8, 12 2, 3, 6, 8, 12 5. Describe and demonstrate the procedure for revising periodic amortization. 11 8 5, 6, 7 4, 6 4, 6 6. Distinguish between operating and capital expenditures, and prepare the entries for these expenditures. 12 9 7 5, 6, 9 5, 6, 9 7. Explain and demonstrate how to account for the disposal of property, plant, and equipment. 13, 14 10, 11 8, 9 7, 8, 12 7, 8, 12 8. Calculate the periodic amortization of natural resources. 15, 16 12 10 9. Contrast the accounting for intangible assets with the accounting for tangible assets. 17, 18, 19, 20 13 11, 12 9, 10, 11 9, 10, 11 10. Illustrate how capital assets are reported on the balance sheet. 21 14 13 11, 12 9, 11, 12 11. Demonstrate how to assess the profitability of total assets. 22 15 14 13 13 10-1
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ASSIGNMENT CHARACTERISTICS TABLE Problem Number Description Difficulty Level Time Allotted (min.) 1A Determine acquisition costs of land and buildings. Simple 20-30 2A Calculate amortization under different methods. Simple 30-40 3A Calculate amortization under different methods, and consider effects. Moderate 30-40 4A Calculate revisions to amortization expense. Moderate 25-35 5A Account for various operating and capital expenditures. Simple 15-25 6A Record operating and capital expenditures. Calculate revision to amortization expense. Moderate 25-35 7A Calculate amortization under straight-line and declining-balance methods. Calculate gain or loss on disposal and total expense over life of asset and comment. Moderate 30-40 8A Journalize alternatives related to disposals of capital assets. Moderate 30-40 9A Classify operating and capital expenditures. Simple 15-25 10A Prepare entries to correct for errors made in recording and amortizing intangible assets. Moderate 30-40 11A Record transactions related to acquisition and amortization of intangibles. Prepare capital assets section of balance sheet. Moderate 30-40 12A Journalize a series of equipment transactions related to purchase, sales, retirement, and amortization. Prepare capital assets section of balance sheet. Moderate 40-50 13A Calculate and comment on asset turnover and return on asset ratios. Moderate 15-25 1B Record acquisition costs of land and building. Simple 20-30 2B Record capital asset acquisition. Calculate amortization under different methods. Simple
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This note was uploaded on 08/12/2011 for the course ACCT 505 taught by Professor Doe during the Spring '11 term at Keller Graduate School of Management.

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solutions+chap+10 - CHAPTER 10 Capital Assets ASSIGNMENT...

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