Intermediate Accounting Quiz

1.| motion :| (TCO 1) The acquisition costs of property, plant, and equipment do not invite:| |  | Student extend:| | The ordinary and necessary costs to array the addition to its desired condition and location for use. |  | | | The net accounting price. |  | | | Legal fees, delivery charges, installation, and any applicable sales tax. |  | | | financial support costs during the first 30 days of use |  | instructor accounting:| Chapter 10| | |  | Points Received:| 4 of 4 |  | Comments:| | | |  2.| perplexity :| (TCO 1) Cantor Corporation acquired a manufacturing facility on blank acres of land for a lump-sum price of $8,000,000. The building acknowledge used but functional equipment. According to independent appraisals, the exquisitely values were $4,500,000, $3,000,000, and $2,500,000 for the building, land, and equipment, respectively. The initial values of the building, land, and equipment would be:    | |  | Stud ent execute:| | Option a |  | | | Option b |  | | | Option c |  | | | Option d |  | Instructor description:| | | |  | Points Received:| 4 of 4 |  | Comments:| | | |  3.

| Question :| (TCO 3) When selling property, plant, and equipment for cash:| |  | Student conclude:| | The seller recognizes a gain or loss for the inequality between the cash received and the fair value of the heart sold. |  | | | The seller recognizes a gain or loss for the residuum between the cash received and the book value of the asset sold. |  | | | The seller recognizes losses, but not gains. |  | | | None of the above. |  | Instructor Explanation:| Chapter 10| | |  | Points Received:| 4 of 4! |  | Comments:| | | |  4.| Question :| (TCO 1) consider to is not capitalized for:| |  | Student Answer:| | Assets that are constructed as pellucid projects for sale or lease. |  | | | Assets constructed for a...If you want to get a dear essay, order it on our website: OrderEssay.net

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