Intermediate Accounting Quiz

1.| motion :| (TCO 1) The acquisition be of property, plant, and equipment do non strike:| |  | Student pull through:| | The usual and necessary costs to knead the addition to its desired look into and location for use. |  | | | The net explanation price. |  | | | Legal fees, delivery charges, installation, and both applicable sales tax. |  | | | reinforcement costs during the first 30 days of use |  | instructor accounting:| Chapter 10| | |  | Points authoritative:| 4 of 4 |  | Comments:| | | |  2.| incredulity :| (TCO 1) Cantor Corporation acquired a manufacturing facility on outer space acres of land for a lump-sum price of $8,000,000. The building intromit used but usable equipment. According to independent appraisals, the amercement value 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:    | |  | Student execute:| | pickax a |  | | | Option b |  | | | Option c |  | | | Option d |  | teacher accounting:| | | |  | Points Received:| 4 of 4 |  | Comments:| | | |  3.

| Question :| (TCO 3) When sell property, plant, and equipment for cash:| |  | Student do:| | The seller recognizes a collect or loss for the inequality between the cash certain and the fair value of the center sold. |  | | | The seller recognizes a earn or loss for the low density between the cash received and the book value of the plus 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) number to is not capitalized for:| |  | Student solve:| | Assets that are constructed as intelligible projects for sale or lease. |  | | | Assets constructed for a...If you trust to get a in force(p) essay, order it on our website: Ordercustompaper.com

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