ACC 291 Final Exam Guide( New)
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ACC 291 Final Exam Guide( New)
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ACC 291 Final Exam Study Guide Question 207 On January 1, a machine with a useful life of five years and a residual value of $ 40,000 was purchased for $ 120,000. What is the depreciation expense for year 2 under the double-declining-balance method of depreciation? IFRS Multiple Choice Question 01 As a recent graduate of State University you ' re aware that IFRS requires component depreciation for plant assets. A friend has asked you to succinctly explain what component depreciation means. Which of the following correctly describes component depreciation? Multiple Choice Question 198 Given the following account balances at year end, compute the total intangible assets on the balance sheet of Janssen Enterprises. Cash $ 1,500,000 Accounts Receivable 4,000,000 Trademarks 1,000,000 Goodwill 2,500,000 Research & Development Costs 2,000,000 Explanation: Intangible Assets = Goodwill + Trademarks = 3,500,000
Multiple Choice Question 146 Bonds with a face value of $ 300,000 and a quoted price of 97ΒΌ have a selling price of Multiple Choice Question 188 Sparks Company received proceeds of $ 423,000 on 10-year, 8 % bonds issued on January 1, 2013. The bonds had a face value of