Chapter 10 Homework - Chapter 10: Acquisition and...

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Unformatted text preview: Chapter 10: Acquisition and Disposition of Property, Plant, and Equipment Tiffany Watt Homework November 3, 2010 AC 301 01 Brief Exercises BE10-2 Current Year Expenditures Capitalizat ion Weighted-Average Date Amount Period = Accumulated Expenditures March 1 $1,500,00 10/12 $1,250,000 June 1 1,200,000 7/12 700,000 December 31 3,000,000 $5,700,00 $1,950,000 BE10-8 Used Truck Comput er Original cost: $20,0 00 FMV: $3,70 Accum. Depr. 18,00 FMV: 2,700 Fair value of used truck $2,700 Cost of used truck $20,00 Less: Accumulated depreciation 18,000 Book value of used truck 2,000 Gain on disposal of used truck $700 Account Titles Debit Credit Computer $ 3,700 Accumulated Depreciation Used Truck 18,000 Used Truck $20,00 Gain on Disposal of Used Truck 700 Chapter 10: Acquisition and Disposition of Property, Plant, and Equipment Tiffany Watt Homework November 3, 2010 AC 301 01 Cash 1,000 Chapter 10: Acquisition and Disposition of Property, Plant, and Equipment Tiffany Watt...
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This note was uploaded on 09/01/2011 for the course BUSINESS 101 taught by Professor - during the Spring '11 term at Mississippi Valley State University.

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Chapter 10 Homework - Chapter 10: Acquisition and...

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