Reference no: EM132707267
Problem 1. What is true in calculation of depreciation using the declining-balance method?
a. ignores salvage value in determining the amount to which a constant rate is applied.
b. multiplies a constant percentage times the previous year's depreciation expense.
c. yields an increasing depreciation expense each period.
d. multiplies a declining percentage times a constant book value.
Problem 2. Land is generally shown on the balance sheet under what account?
a. Intangibles.
b. Investments.
c. Property, Plant, and Equipment.
d. Current Assets.
Problem 3. Given the following account balances at year end, what is the total intangible assets on the balance sheet of Janssen Enterprises.?
Cash $1,500,000
Accounts Receivable 1,000,000
Trademarks 1,200,000
Goodwill 2,500,000
Research & Development Costs 2,000,000
a. $9,700,000.
b. $5,700,000.
c. $3,700,000.
d. $7,700,000.
Compute what is amount of depreciation for first full year
: Equipment with a cost of $450,000 has an estimated,What is the amount of depreciation for the first full year, during which the equipment was used 2,700 hours?
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