uiach cach of the following terms with the sppropriste definition. 2. Betternsen

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uiach cach of the following terms with the sppropriste definition. 2. Betternsent 3. Ordinary repairs 4. Units-of production method 5.Intangible assets 6. Accelerated depreciation 7. Change in accounting estimate . Goodwill 9. Total asset turnover 10. Revenue expenditure _ A The amount by which the company's value exceeds the value of its individual assets d 1ises An expenditure reported on the current peiture to make a plant asdactive D. E. Expenditures made to keep a plant asset in normal, good operating condition. G. A measure of a company's ability to use its assets to generate saies depreciation expense during the early years of an asset's life and smaller expense in the later years The process o allocating the cost of natural resources to periods when they are consumed A change in a financial statement improved judgement. A depreciation method that charges a varying amount to expense for each period of an assets useful life depending on its usage. J.Certain nonphysical assets used in operations that comfer on their owners long-term rights, privileges, or competitive Lsaming Objective: Ch8-P2 each year of the machine's life (estimated at 5 years or 20,000 hours, with a salvage value of $75,000). During the machine's 5- advantages 62. A company purchased a machine on January 1 of the current year for $750,000. Calculate the annual depreciation expense for year life its hourly usage was: 3,000;4,000; 5,000; 5,000, and 3,000 hours Straight-line Units-of-production Year 1 Year 2 Year 3 Year 5 Totals Double-declining-balance End of Period Depreciation for the Period Beg of Period Book Value Depreciation DepreciationAccumulated eciationBook Value Rate Year appraised at $128,000; and a building appraised at $288,000. The plan is to use the building as a manufacturing plant. Determine the amounts that should be recorded as: Leaming Objective: Ch8-Pl 63. A company paid $770,000 plus $5,000 in closing costs for property that included land appraised at $384,000; land improvem 1? Land 2. Land Improvements....$ . Building.. 17

Explanation / Answer

61.

Please post independent questions separately. Thank you.

F. 1. Depletion C. 2. Betterment E. 3. Ordinary repairs I. 4. Units-of-production method J. 5. Intangible assets D. 6. Accelerated depreciation H. 7. Change in accounting estimate A. 8. Goodwill G. 9. Total asset turnover B. 10. Revenue expenditure

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