Accounting-11-Final-Exam

Apr 30th, 2015
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Strayer University
Course: business and management
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1. S9-6- page 511- Compute depreciation on the machine for the year ended December 31, 2011 Using the straight-line method. $6000 2. E9-13-page 513 – Determine the cost of the land, land improvements, and building. #1- only. Land= $372,500 Building= $550000 Land Improvements= $73,000 3. Discuss the major characteristics of plant assets.

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Strayer UniversityDr Jan D FeltonJan.Felton@Strayer.eduAccounting 11 Final ExamName Demond Scott Date 9/5/20101. S9-6- page 511- Compute depreciation on the machine for the year ended December 31, 2011Using the straight-line method. $60002. E9-13-page 513 - Determine the cost of the land, land improvements, and building. #1- only.Land= $372,500 Building= $550000 Land Improvements= $73,0003. Discuss the major characteristics of plant assets.Plant assets can be referred to as equipment, property, and buildings. Plant assets are items that the company holds for use in their business and are relatively expensive. The can not be sold or traded. Plant assets last for several years and should be allocated over the years they are expected to be used. The full cost invested in these assets can be challenge to determine due to difficulty of tracking installation, shipping, and other costs related to the asset. 4. S-10-16- page 561- 1. Journalize the issuance of bonds on August 1, 2012. 2. Journalize the accrual of interest on December 31, 2012,3. Journalize payment of the first semiannual interest amount on February 1, 20132012Aug. 1Cash$90

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