Beruflich Dokumente
Kultur Dokumente
1.
Question :
not include:
Student Answer:
The ordinary and necessary costs to bring the asset to its
desired condition and location for use.
The net invoice price.
Legal fees, delivery charges, installation, and any applicable sales tax.
Maintenance costs during the first 30 days of use.
2.
Question :
(TCO 3) Below are data relative to an exchange of similar assets by
Grand Forks Corp. Assume the exchange has commercial substance.In Case A, Grand
Forks would record the new equipment at:
Student Answer:
$75,000.
$50,000.
$60,000.
$65,000.
3.
Question :
film, is a:
Student Answer:
Patent.
Copyright.
Trademark.
Franchise.
4.
Question :
(TCO 4) Assuming an asset is used evenly over a four-year service life,
which method of depreciation will always result in the largest amount of depreciation in the
first year?
Student Answer:
Straight-line.
Units-of-production.
Double-declining balance.
Sum-of-the-years digits.
5.
Question :
(TCO 4) On September 30, 2011, Bricker Enterprises purchased a
machine for $200,000. The estimated service life is 10 years with a $20,000 residual value.
Bricker records partial-year depreciation based on the number of months in service.
Depreciation for 2011, using double-declining balance, would be:
Student Answer:
$10,000.
$36,000.
$40,000.
$9,000.
6.
Question :
equipment:
Student Answer:
Is handled prospectively.
7.
Question :
(TCO 5) The investment category for which the investors positive
intent and ability to hold is important is:
Student Answer:
Trading securities.
Securities classified as held-to-maturity.
Securities available for sale.
8.
Question :
company has:
Student Answer:
9.
Question :
Student Answer:
assets.
On self-constructed assets from the date an entity formally adopts a plan to build a
discrete project.
Whether or not there is specific borrowing for the construction.
Whether or not there are actual interest costs incurred.
10. Question :
incurred:
Student Answer:
established.
11. Question :
(TCO 4) The factors that need to be determined to compute
depreciation are an assets:
Student Answer:
12. Question :
securities?
Student Answer:
Trading securities.
Consolidated securities.
Held-to-maturity securities.
13.
Question :
Student Answer:
Purchase price.
Razing old buildings.
Closing costs.
Maintenance.
14.
Question :
Student Answer:
The seller recognizes a gain or loss for the difference between
the cash received and the fair value of the asset sold.
The seller recognizes a gain or loss for the difference between the cash received and the
book value of the asset sold.
The seller recognizes losses, but not gains.
None of the above.
15.
Question :
Student Answer:
production.
16.
Question :
Student Answer:
17.
Question :
(TCO 5) Trading securities are most commonly found in the books of:
Student Answer:
Oil companies.
Manufacturing companies.
Banks.
Foreign subsidiaries.
18. Question :
(TCO 5) All investments in debt and equity securities that dont fit the
definitions of the other reporting categories are classified as:
Student Answer:
Trading securities.
19. Question :
(TCO 5) When using the equity method to account for an investment,
cash dividends received by the investor from the investee should be recorded:
Student Answer:
1.
Question :
(TCO 2) Briefly explain the differences between U.S. GAAP and
International Financial Reporting Standards in accounting for research and development
expenditures other than software development costs.
2.
Question :
(TCO 5) Discuss the following questions.What securities must be
classified within one of the three categories of held-to-maturity, available-for-sale, and
trading? (Do not describe how to determine how securities are classified among these three
categories.) Identify the four primary recording activities related to investments in
securities.
3.
Question :
(TCO 1) Please distinguish between tangible operational assets and
intangible assets. Provide three examples of each.
4.
Question :
(TCO 4) Briefly differentiate between activity-based and time-based
allocation methods.