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Review Questions

6 May, 2015 - 17:39

R- ac11-1: What is characteristic of pland assets?

R- ac11-2: Depreciations applies to which assets? And to which not?

R- ac11-3: What factors affect the calculation of depreciation?

R- ac11-4: Describe the straight-line method of depreciation.

R- ac11-5: Described the units-of-production method of depreciation.

R- ac11-6: Described the declining-balance method of depreciation.

R- ac11-7: Described the sum-of-the-years-digits method method of depreciation.

R- ac11-8: Compare the different depreciation methods.

R- ac11-9: How are tax consideration affecting the choice of depreciation method?

R- ac11-10: Why are depreciation estimates revised?

R- ac11-11: Outline the entries for depreciation.

R- ac11-12: What are the categories of plant asset expenditures?

R- ac11-13: Outline the accounting treatment of plant asset disposal.

R- ac11-14: What happens to depreciation when a plant asset is sold?

R- ac11-15: Why subsidiary ledgers are used fo plant assets?

R- ac11-16: What is the composite-rate depreciation method?

R- ac11-17: How does leasing compare to owning depreciable plant assets?

R- ac11-18: What is the accounting treatment of intangible assets?

R- ac11-19: To what assets does depletion pertain?

  1. Distinguish between tangible and intangible assets. Name and describe four kinds of intangible assets.
  2. Compare the choice between straight-line and accelerated depreciation with the choice between FIFO and LIFO. Give at least one similarity and one difference.