1.The purchase price of the truck includes the Artwork for $4,000 (T/F) 2. The journal entry to...
Question:
1.The purchase price of the truck includes the Artwork for $4,000 (T/F)
2. The journal entry to recognize the purchase of the truck will be:
3.The Depreciation Expense in 2019 will be for:(____months)
4. To recognize Depreciation Expense, the journal entry would include:
Group of answer choices
a)CR Accumulated Depreciation
b)DR Accumulated Depreciation
c)CR Truck
d)CR Depreciation Expense
5.Depreciation Expense for Year 3 would be:
6.Which method of calculating depreciation expense is the LEAST accurate?
a)Straight-Line
b)Double Declining Balance
c)Units of Production
d)All methods are equally accurate
7.The Gain on Sale of the Truck is entered as a:
a)cr
b)dr
c)expense
d)receivable
8.At the time of sale, the balance in Accumulated Depreciation is:
9. At the time of sale, the balance in Accumulated Depreciation is:
10. At the time of sale, Cash is debited for:
Cost management a strategic approach
ISBN: 978-0073526942
5th edition
Authors: Edward J. Blocher, David E. Stout, Gary Cokins