超星 - Assignment 7

单选题

HarringtonCorp.purchasedatractofland,asmallofficebuilding,andsomeequipmentfor$1,500,000.Theappraisedvalueofthelandwas$850,000,thebuilding$675,000,andtheequipment$475,000.Whatisthecostoftheland?

A. $481,667
B. $637,500
C. $850,000
D. $936,000

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单选题

Acompanyboughtanewmachinefor$17,000onJanuary1.Themachineisexpectedtolast4yearsandhavearesidualvalueof$2,000.Ifthecompanyusesthedouble-declining-balancemethod,accumulateddepreciationattheendofyear2willbe:

A. $10,880
B. $11,250
C. $12,750
D. $15,000

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单选题

Oneofthefollowingstatementsaboutdepreciationisfalse.Whichstatementisfalse?

A. Depreciationisaprocessofallocatingthecostofaplantassetoveritsusefullife.
B. Thecostofaplantassetminusaccumulateddepreciationequalstheasset’sbookvalue.
C. Recordingdepreciationcreatesafundtoreplacetheassetattheendofitsusefullife.
Depreciationisbasedonthematchingprinciplebecauseitmatchesthecostoftheassetwiththerevenuegeneratedovertheasset’susefullife.

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单选题

Acapitalexpenditure

A. isexpensedimmediately.
B. recordsadditionalcapital.
C. isacreditlikecapital(owners’equity)
D. addstoanasset.

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单选题

Whichofthefollowingitemsshouldbeaccountedforasacapitalexpenditure?

A. Themonthlyrentalcostofanofficebuilding.
B. Salestaxespaidinconjunctionwiththepurchaseofofficeequipment.
Costsincurredtorepairleaksinthebuildingroof.
D. Maintenancefeespaidwithfundsprovidedbythecompanycapital.

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单选题

HarperCompanyacquiredamachinefor$26,000andhasrecordeddepreciationforthreeyearsusingthestraight-linemethodoverasix-yearlifeand$2,000residualvalue.Whatisthebookvalueofthemachineattheendofthreefullyearsofuse?

A. $12,000
B. $13,000
C. $14,000
D. $16,250

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单选题

SmithCompanyfailedtorecorddepreciationofequipment.HowdoesthisomissionaffectSmith’sfinancialstatements?

A. Netincomeisoverstatedandassetsareoverstated.
B. Netincomeisunderstatedandassetsareunderstated.
C. Netincomeisoverstatedandassetsareunderstated.
D. Netincomeisunderstatedandassetsareoverstated.

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单选题