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1.1.Which of the following expenditures incurred in connection with the acquisition ofWhich of the following expenditures incurred in connection with the acquisition ofequipment is not a proper charge to the asset account?equipment is not a proper charge to the asset account?A)A)Freight or transportation costs.Freight or transportation costs.B)B)Cost of test runs to ready the machine for operationCost of test runs to ready the machine for operationC)C)Taxes and tariffsTaxes and tariffsD)D)Cost of vandalismCost of vandalismE)E)B and DB and D
2.2.If the Double-declining depreciations rate of a plant asset is 50%, then its estimatedIf the Double-declining depreciations rate of a plant asset is 50%, then its estimatedlife will be:life will be:
36
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Chapter 25 / Exercise 6
College Accounting, Chapters 1-27
Heintz/Parry
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3.3.Which of the following methods will yield the highest deprecation expense during theWhich of the following methods will yield the highest deprecation expense during thefirst year of an asset’s life?first year of an asset’s life?
4.4.If the adjusting entry to record depreciation expense was overlooked, then:If the adjusting entry to record depreciation expense was overlooked, then:
TYPE C:TYPE C:Work out the following questions:Work out the following questions:On October 5, 2001, NOON C. acquired a new machine at a cost of Birr 250,000. the machineOn October 5, 2001, NOON C. acquired a new machine at a cost of Birr 250,000. the machinehas a useful life of 5 years and scrape value of Br. 10,000. it is estimated that the equipmenthas a useful life of 5 years and scrape value of Br. 10,000. it is estimated that the equipmentwill produce 2,000,000 units of products throughout its life. The equipment produced 95,000will produce 2,000,000 units of products throughout its life. The equipment produced 95,000units and 300,000 units of products during the fiscal periods ending December 31, 2001 andunits and 300,000 units of products during the fiscal periods ending December 31, 2001 andDecember 31,2001 respectively. On the basis of the above date, compute deprecation expenseDecember 31,2001 respectively. On the basis of the above date, compute deprecation expenseto be recorded on Dec. 31, 2002.to be recorded on Dec. 31, 2002.1)1)Under the units of production method.Under the units of production method.2)2)Under the declining-balance method.Under the declining-balance method.3)3)Under the sum-of-years-digits methodUnder the sum-of-years-digits method4)4)Under the straight-line method.Under the straight-line method.
4.15 RECOMMENDED (REFERENCE) BOOKS4.15 RECOMMENDED (REFERENCE) BOOKS1. Fees and Warren1. Fees and Warren::Principles of Accounting, 16Principles of Accounting, 16ththEdition.

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Term
Spring
Professor
Dr. Laximikantam
Tags
Depreciation, retail price, Br
We have textbook solutions for you!
The document you are viewing contains questions related to this textbook.
College Accounting, Chapters 1-27
The document you are viewing contains questions related to this textbook.
Chapter 25 / Exercise 6
College Accounting, Chapters 1-27
Heintz/Parry
Expert Verified

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