Question: if someone could please answer these from my Construction management class (CME 240) Solve the following problems; 1. What are the key features of a

Solve the following problems; 1. What are the key features of a construction accounting system? [5 points] 2. Define the following accounting terms: [20 points) (a) Committed costs (b) Book Value (c) Depreciation (d) Recovery period (e) Useful life of an asset 3. A piece of equipment is purchased for $100,000 and has an estimated salvage value of $18,000 at the end of the recovery period. Prepare the depreciation schedules (tables below) using the following depreciation methods with a recovery period of five years. (30 points] a. Straight-Line Method D. (5) Byu. (S) m Rm 0 1 2 3 4 5 b. Sum-Of-The-Years Method Rm D(S) elo BA(S) 1 2 3 4 5 c. 200% declining-balance method m Rm D. (S) BV. (S) 0 1 2 3 4 5 d. 150% declining-balance method m R. D. (S) Bym(S) 0 1 2 3 4
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