Question 14 pts Where would we record the cost of clearing land and removing an unwanted building?construction of new buildinglandland improvementspurchase of an existing buildingFlag this QuestionQuestion 2 On January 1, 2017 we purchased a truck for $60,000. The truck has a useful life of 5 years and a residual value of $5,000. The truck is depreciated using the double-declining balance method. What is the depreciation expense for 2017?$24,000$22,000$12,000$11,000Flag this QuestionQuestion 3 A plant asset would be reported on the balance sheet at:market valuehistorical costhistorical cost plus book valuehistorical cost minus book valueFlag this QuestionQuestion 4 On January 1, 2017 we purchased a truck for $60,000. The truck has a useful life of 5 years and a residual value of $5,000. The truck is depreciated using the straight-line method. What is the depreciation expense for 2017?$12,000$11,000$5,500$1,000Flag this QuestionQuestion 5 A truck cost $60,000 when purchased and has a $55,000 balance in the accumulated depreciation account. If the truck is discarded we will record a:debit to truck, $60,000 and debit to loss on disposal, $5,000credit to accumulated depreciation, $60,000,credit to loss on disposal,$5,000credit to truck, $60,000loss on disposal, $60,000Flag this QuestionQuestion 6 On July 1, 2017 we purchased a truck for $60,000. The truck has a useful life of 5 years and a residual value of $5,000. The truck is depreciated using the double-declining balance method. What is the balance in accumulated depreciation after the adjusting entry for 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online (year 2)?$35,200$21,600$31,200$19,800Flag this QuestionQuestion 7Which of the following is not included in the cost of land improvements?sprinkler systemssignsfencingdelinquent property taxesFlag this QuestionQuestion 8 On January 1, 2017 we purchased a truck for $55,000. The truck has a useful life of 5 years or 100,000 miles, and a residual value of $5,000. The actual mileage for the truck was 25,000 miles in 2017 and 30,000 miles in 2018: 2024 – Write My Essay For Me | Essay Writing Service For Your Papers Online. The truck is depreciated using the units of production method. What is the depreciation expense for 2017?$22,000$20,000$15,000$12,500Flag this QuestionQuestion 9 A truck cost $60,000 when purchased and has a $60,000 balance in the accumulated depreciation account. If the truck is discarded we will record a:debit to truck, $60,000credit to accumulated depreciation, $60,000debit to accumulated depreciation, $60,000loss on disposal, $60,000Flag this QuestionQuestion 10 A truck cost $60,000 when purchased and has a $50,000 balance in the accumulated depreciation account. If the truck is sold for $5,000 cash we will record:gain on disposal of $5,000loss on disposal,$5,000no gain or lossno entry is required
Travelling Experience
Can you remember your best experince in another country? Last summer (in 2007), I traveled to the United States for working and spending some time with my friends. I stayed two months in that country. I decided to travel because I wanted to do something different. I was bored about all my daily activities, so […]
