Chapter10_Answer - EXERCISES Ex. 101 a. New printing press:...

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EXERCISES Ex. 10–1 a. New printing press: 1, 2, 3, 4, 6 b. Used printing press: 7, 8, 9, 11 Ex. 10–2 a. Yes. All expenditures incurred for the purpose of making the land suitable for its intended use should be debited to the land account. b. No. Land is not depreciated. Ex. 10–3 Initial cost of land ($30,000 + $270,000). ................... $300,000 Plus: Legal fees. ......................................................... $ 1,425 Delinquent taxes. .............................................. 12,000 Demolition of building. ..................................... 18,500 31,925 $331,925 Less: Salvage of materials. ........................................ 4,500 Cost of land. ................................................................ $327,425 Ex. 10–6 Feb. 16 Accumulated Depreciation—Delivery Truck. .... 3,150 Cash. ............................................................... 3,150 July 15 Delivery Truck. .................................................... 1,100 Cash. ...............................................................
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This note was uploaded on 03/26/2012 for the course ACCOUNTING 1A,1B,1C taught by Professor Spinozzi during the Summer '10 term at DeAnza College.

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Chapter10_Answer - EXERCISES Ex. 101 a. New printing press:...

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