before friday will be okay. by the way，do you answer other subject questions? for example:business law?
Depends upon type of questions asked. If I am not able to do it I will refer to you another good expert.I will post solution to these by tomorrow.
For future request please do write "FOR LINDA" at start of your post.
okay, thank you very much
uestion 1 A company purchased land for $350,000 cash. Real estate brokers' commission was $25,000 and $35,000 was spent for demolishing an old building on the land before construction of a new building could start. Under the historical cost principle, the cost of land would be recorded at Answer . $410,000. 10 points Question 2 Which of the following is not properly classified as property, plant, and equipment? Answer A truck held for resale by an automobile dealership. 10 points Question 3 Which of the following would not be included in the Equipment account? Answer Electricity used by the machine.
10 points Question 4 Which of the following assets does not decline in service potential over the course of its useful life? Answer Land. 10 points Question 5 Aber Company buys land for $145,000 on 12/31/13. As of 3/31/14, the land has appreciated in value to $152,000. On 12/31/14, the land has an appraised value of $155,400. By what amount should the Land account be increased in 2014? Answer $10,400.
10 points Question 6 Wesley Hospital installs a new parking lot. The paving cost $45,000 and the lights to illuminate the new parking area cost $18,000. Which of the following statements is true with respect to these additions? Answer . $63,000 should be debited to Land Improvements. 10 points Question 7 A company purchases a remote building site for computer operations. The building will be suitable for operations after some expenditures. The wiring must be replaced to computer specifications. The roof is leaky and must be replaced. All rooms must be repainted and recarpeted and there will also be some plumbing work done. Which of the following statements is true? Answer The wiring is part of the computer costs, not the building cost. 10 points Question 8 In computing depreciation, salvage value is Answer an estimate of a plant asset's value at the end of its useful life. 10 points Question 9 Equipment with a cost of $225,000 has an estimated salvage value of $15,000 and an estimated life of 4 years or 10,000 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used 2,700 hours? Answer $52,500. 10 points Question 10 A company purchased factory equipment on April 1, 2014, for $96,000. It is estimated that the equipment will have a $12,000 salvage value at the end of its 10-year useful life. Using the straight-line method of depreciation, the amount to be recorded as depreciation expense at December 31, 2014, is Answer $6,300. 10 points Question 11 A current liability is a debt that can reasonably be expected to be paid Answer within one year, or the operating cycle, whichever is longer. 10 points Question 12 Very often, failure to record a liability means failure to record a(n) Answer expense. 10 points Question 13 Sales taxes collected by a retailer are recorded by Answer crediting Sales Taxes Payable. 10 points Question 14 The current portion of long-term debt should Answer be reclassified as a current liability. 10 points Question 15 A retailer that collects sales taxes is acting as an agent for the Answer taxing authority. 10 points Question 16 Which one of the following would not be considered an advantage of the corporate form of organization? Answer Government regulation.