Provide the following.

Chapter 7 (20 points) Definition and calculation of depreciation, accumulated depreciation and book value using straight-line depreciation (you will not be test on double-declining balance depreciation) effect of depreciation, revenue expenditures and capital expenditures on the income statement and balance sheet (the accounting equation) definition and examples of fixed assets, accumulated depreciation, capital expenditures and revenue expenditures calculating the cost of land and fixed assets (what is included in the amount recorded on the balance sheet) why companies use MACRS depreciation Chapter 8 (28 points)