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What gain or loss did the trucking company record

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What gain or loss did the trucking company record when it sold the fleet of trucks? 2ooca *BtCIoo H r ]ooo lf lo/ o00 c-ost * | Zbfi.Ooe Qcc' .-.'r=...''.re.*.-- rdc- @ **''" i L*l t)cso trpmpany A will show which of the following compared 1o Company B? Cal) Lo*"r asset values and net income. 6;;;;;;;;i;;"' *ahigher net income {a=**F* -W.Y:r!:1 i:::l til::: Tq l":,::1:come 1 t \--- Gain of $86,000. Gain of $55,000. Loss of $55,000. Loss of $86,000. 53 [email protected] -\f1,ooo ti)s ( g-v,oo Compar,qy _A plgs eq accelerated depreciation method while Company B uses the straight- line method. A11 other things equal, during the_fi-rst few years of the asset's use, ffiUilner asset values and net income.
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-r \ 45. balance in the Accumulated Depreciation account represents the fund to be used to replace plant assets to be deducted from the cost of the plant asset to arrive at its fair market value - amount charged to expense in the current period charged to expense since the acquisition of the plant asset Goodwill A) is only recorded when generated internally B) can be added to the balance sheet when a company is profitabie C) is calculated by subtracting liabilities from retained earnings [D\"* only be identifled when a buyer is willing to pay an amount in excess of the \-/ market value of the net assets for an on-going business c The price paid for a Sxed asset includes all of the foliowing except the A) insurance during transit B) installation costs, including test runs C) sales tax on the purchase price Q sales commissions paid ( E)\interest expense or purchase discounts If a company capitalizes costs that should be expensed, how is its income statement for gilrrent period impacted? .'A) Net income will be lower than it should be. B) Revenues will be lower than they should be. @) E*p"nses will be lower than they should be. t[ Assets will be lower than they should be. A book manufacturing company sells equipment for $450,000 when the book value of the ggipment is $400,000.. The company would record the extra $50,000 as: ( A)Ju gain. increasing net income and stockholders' equlty. lB) a loss , decreasing net income and stockholders'equity. C) cash, increasing assets and stockholders'equlty. D) accumulated depreciation, increasing assets and stockholders' equity. Which of the following types of assets are not depreciated or amortized? A) Land Improvements B) Leasehold Improvements 46. -\ --*::?8. 49. C) Trademarks
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51. The balances of the Depreciation Expense and the Accumulated Depreciation accounts should alwavs be the same. Ar*" \u\\ 1I R)')False \Z In a retail business that uses a peqpetual inventory system, scanning a bar code: A) calculates the amount owed by the customer. B) identifies the item sold to be removed from the lnventory account. identifies the item sold to be recorded in the Cost of Goods Sold account. all of the above. On December 31, 2A11, you count 300 scarves in iuventory. During the next quartet, you carefully record the effect of each purchase and sale transaction on inventory. You buy 128 scarves during the next quarter. On March 31,2012, you count 288 scarves in inventory. Which of the following is true?
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