Our company purchased equipment for 36000 on january 1 2013

Reference no: EM13589871

1.Interest is eligible to be capitalized as part of an asset's cost, rather than being expensed immediately

a) on routinely manufactured goods as well as self-constructed assets.

b) on self-constructed assets from the date an entity formally adopts a plan to build a discrete project.
c) whether or not there is specific borrowing for the construction.
D) whether or not there are actual interest costs incurred.

2.The legal life of goodwill is

a. 70 years.
b. 50 years.
c. 20 years.
d. indefinite.

3.Our company purchased equipment for $36,000 on January 1, 2013. The equipment is expected to have a 5-year life and a residual value of $3,000. Using the straight-line method, accumulated depreciation at December 31, 2014 would be

a. $19,800.
b. $36,000.
c. $6,600.
d. $13,200.

4.Our company purchased equipment for $36,000 on January 1, 2013. The equipment is expected to have a 5-year life and a residual value of $3,000. Using the straight-line method, accumulated depreciation at December 31, 2014 would be

a. $19,800.
b. $36,000.
c. $6,600.
d. $13,200.

Reference no: EM13589871

Questions Cloud

An experiment shows that a 250 ml gas sample has a mass of : question an experiment shows that a 250 ml gas sample has a mass of 0.430 g at a pressure of 728 mmhg and a temperature

At an activity level of 9200 machine-hours in a month : at an activity level of 9200 machine-hours in a month nooner corporations total variable production engineering cost is

What is an example of a gain contingency what is the : what is an example of a gain contingency? what is the accounting treatment for gain contingencies? please discuss the

Cactus construction sells 1000000 of 8 bonds on january 1 : cactus construction sells 1000000 of 8 bonds on january 1 20xx. the bonds are unsecured but registered to the name of

Our company purchased equipment for 36000 on january 1 2013 : 1.interest is eligible to be capitalized as part of an assets cost rather than being expensed immediatelya on

Journalize the entry to record the first semi- annual : on january 1 2011 a company issued 1000000 of 5 year 12 bonds at an effective interest rate of 13 receiving cash of

If 269 ml of base are required to neutralize 205 ml of the : an aqueous solution of hydroiodic acid is standardized by titration with a 0.275 m solution of potassium hydroxide.if

For each plan determine the division of the net income : dylan howell and demond nickles have decided to form a partnership. they have agreed that howell is to invest 50000 and

Rhinos landscaping sells a quality brand of hoes shovels : rhinos landscaping sells a quality brand of hoes shovels and rakes in a sales mix of 242 25 50 25. the companys fixed

User Account

All Pages