1-2. Three common depreciation methods are units-of-production, 1._________________________, and 2._________________________. 3.The periodic write-off of the cost of an intangible asset to expense is called 4.Costs that are chargeable to an asset account or its related accumulated depreciation account are termed 5.Cost of an asset minus its accumulated depreciation is called 6.Long-lived assets that are useful in the operations of a business, that are not held for sale, and that have no physical qualities are usually classified on the balance sheet as 7-9.The following expenditures are related to land acquired for use by a busi-ness. Indicate the account that should be debited for each expenditure 7.Cost of paving parking areas 8.Cost of razing unwanted building 9.Realty brokers commission paid in purchasing land 10-13. The following expenditures are related to equipment acquired for use by a business. Indicate the account that should be debited for each expenditure. 10.Cost of vandalism on the equipment during installation 11.Special foundation 12.New parts to replace those damaged in installation 13.Installation costs 14.A patent is referred to as a (n) 15.The expense account for using natural resources is 1-3. Equipment priced at $130,000 is acquired by trading in a similar asset and paying $115,000. 1.If the book value of the asset traded in was $23,000, the cost basis of the new asset is 2. If the book value of the asset traded in had been $8,000, the cost basis of the new asset would be 3. If the assets traded in #1 had been dissimilar, the cost basis of the new asset is 4. A patent with a cost of $150,000 has an estimated useful life of 5 years and a legal life of 12 years. The annual amortization is 5-7. Machinery acquired on the first day of the current fiscal year for $750,000 has an estimated useful life of 5 years or 50,000 hours and a residual value of $0. Determine the depreciation for the current year by each of the following methods: 5. Straight-line 6. Double -declining-balance 7. Units-of-production (the equipment was used for 5,000 hours during the year) 8-9. Based on the data in Question 5-7, and assuming that the machinery was used for 10,000 hours in the second year, determine the deprecia-tion for the second year by each of the following methods: 8. Double -declining-balance 9. Units-of-production 10-11. Based on the data in Question 5-7, and assuming that the machinery was used for 5,500 hours in the third year, determine the depreciation for the third year by each of the following methods: 10. Double -declining-balance 11. Units-of-production ACCOUNTS A. Accounts Receivable F.Depletion Expense K.Notes Payable B. Accumulated Depletion G.Equipment L.Notes Receivable C.Accumulated DepreciationEquipment H.Gain on Disposal of Fixed Assets M. Research and Development D. Amortization ExpensePatents I.Goodwill Expense E. Cash J. Loss on Disposal of Fixed Assets N. Patents 1-2. Traded in old equipment for similar equipment priced at $75,000, receiving a trade-in allowance of $8,000 and paying the balance in cash. (Cost of the old equipment was $37,500; accumulated depreciation, $30,000) 3-4. Traded in equipment costing $47,500, with accumulated depreciation of $30,000, for similar equipment priced at $60,000; received a trade-in allowance of $5,000 and issued a note for the balance 5-6. Paid research and development expense, $40,000 7-8. Discarded equipment: cost, $83,750; accumulated depreciation, $82,750 9-10. Sold for $5,000 cash the following equipment: cost, $57,500; accumulated depreciation, $55,000 11-12. Sold on account for $8,000 the following equipment: cost, $32,000; accumulated depreciation, $15,000 13-14. Recorded depletion, $18,500 Credit and Debit for each number...what account goes with each credit and debit..may be more than 1