Page

Assignment

Check Figures

498

P10-1A

Total land transactions, $161,500

499

P10-2A

(a) Accumulated amortization, Machine 2, 2002, $34,688

499

P10-3A

(a) 2002 amortization expense, straight-line method, $30,000; Double declining-balance method, $66, 667

499

P10-4A

Amortization expense, 2000, $7,200; 2002, $5,400; Accumulated amortization, 2005, $37,500

499

P10-5A

1. Equipment

2. Land Improvements

500

P10-6A

(b) (2) Revised annual amortization expense, year 3, $13,200

500

P10-7A

(a) Year 2, amortization expense, straight-line method, $5,000; declining balance method, $3,938

(b) 1. i. Straight-line method, gain on disposal, $1,000; ii. declining balance method, loss on disposal, $1,859

500

P10-8A

(a) Loss on disposal, $21,000

500

P10-9A

Architect fees—Building

Cost to demolish—Land

501

P10-10A

1. Amortization expense, $2,400

501

P10-11A

(b) Amortization expense, Patent #1, $8,333

(c) Total capital assets, $327,542

502

P10-12A

(a) May 1, gain on disposal, $27,000

(b) Amortization expense—equipment, $4,793,000

(c) Total capital assets, $61,695,000

502

P10-13A

(a) Asset turnover, Andrew Company, 0.56 times; Michael Company, 0.65 times

502

P10-1B

1. Debit to Land account, $96,667

503

P10-2B

(a) Total cost of equipment, $48,900

(b) 2002, amortization expense, straight-line method, $8,180; Units-of-activity method, $9,600; Double declining-balance method, $11,736

503

P10-3B

(a) Cost, $35,300

(b) 2002 amortization expense, 1. straight-line method, $7,575; 2. Double declining-balance method, $17,650; 3. Units-of-activity method, $7,878

503

P10-4B

Amortization expense, 2000, $8,000; 2002, $26,867; Accumulated amortization, 2004, $48,600

504

P10-5B

1. Equipment

2. Repairs and Maintenance Expense

504

P10-6B

(b) (2) Revised annual amortization expense, year 4, $20,000; year 5, $12,400

504

P10-7B

(a) Straight-line method, loss on disposal, $1,600; Units-of-activity, loss on disposal, $1,600; Double declining-balance method, gain on disposal, $2,150

504

P10-8B

(a) Loss on disposal, $8,400

(c) Loss on disposal, $400

505

P10-9B

(a) Land purchase—Land; Land survey—Land

(b) Total capital assets, $572,500

505

P10-10B

5. Amortization expense, $12,000

505

P10-11B

(a) 2002, $1,260,000; 2003, $140,000

506

P10-12B

(a) May 1, gain on disposal, $20,000

(b) Amortization expense—equipment, $3,960,000

(c) Total capital assets, $50,467,500

506

P10-13B

(a) Asset turnover, St. Amand Company, 0.80 times; St. Helene Company, 1.69 times

507

Cumulative

Coverage

(b) Total adjusted trial balance debit and credit columns, $1,106,664

(c) Net income, $23,455; Ending capital, $128,392; Total assets, $332,992

508

BYP10-1

(a) (3) $1,768,000

(c) Amount received from disposal of capital assets, $766,000

509

BYP10-4

(a) Accumulated amortization, straight-line method, $48,000; double declining-balance method, $90,564

(b) Total adjusted net income for three-year period, Levesque Company, $262,400; Ferris Company, $271,564

509

BYP10-6

(c) Net income increases $240,000