ACC 304 ACC304 Chapter 10 Homework
ACC 304 Chapter 10 Homework
Brief Exercise 10-3
Brief Exercise 10-8
Brief Exercise 10-13
Multiple Choice Question 56
Which of the following is a capital expenditure?
Multiple Choice Question 67
Fogelberg Company purchased equipment for $15,000. Sales tax on the purchase was $900. Other costs incurred were freight charges of $240, repairs of $420 for damage during installation, and installation costs of $270. What is the cost of the equipment?
Multiple Choice Question 57
Which of the following is not a capital expenditure?
Multiple Choice Question 81
During 2012, Bass Corporation constructed assets costing $2,000,000. The weighted-average accumulated expenditures on these assets during 2012 was $600,000. To help pay for construction, $880,000 was borrowed at 10% on January 1, 2012, and funds not needed for construction were temporarily invested in short-term securities, yielding $18,000 in interest revenue. Other than the construction funds borrowed, the only other debt outstanding during the year was a $1,200,000, 10-year, 9% note payable dated January 1, 2006. What is the amount of interest that should be capitalized by Bass during 2012?
Multiple Choice Question 49
When a closely held corporation issues preferred stock for land, the land should be recorded at the