Acc 291 Exercises and Problems Week Two
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Acc 291
Exercises and Problems - Week Two
ACC/291
University of Phoenix
E9-1
A. In this scenario, with the cost principle, the purchase cost for the factory asset will have all bills necessary to get the asset and make it ready for its particular objective.
B. 1. Property
-
Plant Machines
-
Delivery Machines
-
Land Renovations
-
Delivery Machines
-
Plant Machines
-
Prepaid Insurance
- License Expenditure
E9-7
A. 1. 2011: 3,500
2012: 3,500
- per mile
2011: 4,200
2012: 3,360
- 2011: 7,500
2012: 5,625
B. 1. Wear and tear Expenditure 3,500
3,500
- Delivery Vehicle 30,000
Accumulated Wear and tear 3,500
26,500
E9-12
Dec. 31 Amortization Expenditure: Patent 12,000
12,000
P9-7B
A. Jan. 2 Patents 45,000
45,000
Jan. Research and Development
June Expenditure 230,000
230,000...
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