Disposition of Property‚ Plant‚ and Equipment ANSWERS TO QUESTIONS 1. The major characteristics of plant assets are (1) that they are acquired for use in operations and not for resale‚ (2) that they are long-term in nature and usually subject to depreciation‚ and (3) that they have physical substance. 2. The company should report the asset at its historical cost of $420‚000‚ not its current value. The main reasons for this position are (1) at the date of acquisition‚ cost reflects fair value; (2)
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Respective Area 1. How often does your barangay conduct seminar about proper waste management? ___ every week ___ every month ___never ___other (please specify) _______________________ 2. How often does the local government collect garbage in your respective areas? ___ every day ___every week ___never ___other (please specify) _______________________ 3. Does your barangay provides street sweepers? ____ Yes ____ No
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gases‚ dust‚ smoke enters into the atmosphere and makes it difficult for plants‚ animals and humans to survive as the air becomes dirty. Causes of Air pollution 1. Burning of Fossil Fuels: pollution emitting from vehicles including trucks‚ jeeps‚ cars‚ trains‚ airplanes cause immense amount of pollution. 2. Agricultural activities: The use of insecticides‚ pesticides and fertilizers in agricultural activities has grown quite a lot. They emit harmful chemicals into the air and can also cause water
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no required down payment‚ (3) shared tax advantages‚ (4) assets and liabilities are not reported on the balance sheet. 6. You should explain to the president that depreciation is a process of allocating the cost of a plant asset to expense over its service (useful) life in a rational and systematic manner. Recognition of depreciation is not intended to result in the accumulation of cash for replacement of the asset. 7. (a) Salvage value is the expected cash value of the asset at the end of its
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example‚ recycled paper has more toxins during the process than the process of producing new paper. In addition‚ when the city recycles‚ more trucks are needed to collect the recycle materials. “Los Angeles has 800 rubbish trucks rather than 400‚ because of its curb-side recycling” (Benjamin‚ 2006). This means that the city will need more fuel for the trucks and that will causes more pollution in the city. Benjamin (2006) believes that recycling is not effective. However‚ others believe that
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charged William W. McBoyle (defendant) for stealing a Waco airplane with motor No. 6124‚ serial No. 256. he transported an airplane that he knew was stolen cross state lines. In the federal trial court‚ the defendant filed a motion in arrest of judgment and for a new trial. he was convicted under the National Vehicle Motor theft act. The US court of appeals affirmed the motion judgment and convicted the defendant of transporting an airplane he knew was stolen and was sentenced to serve three years’
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the following costs. 2. Depreciation is a process of: 3. Micah Bartlett Company purchased equipment on January 1‚ 2010‚ at a total invoice cost of $400‚000. The equipment has an estimated salvage value of $10‚000 and an estimated useful life of 5 years. The amount of accumulated depreciation at December 31‚ 2011‚ if the straight-line method of depreciation is used‚ is: 4. Ann Torbert purchased a truck for $11‚000 on January 1‚ 2010. The truck will have an estimated salvage
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Merchandise inventory 11‚700 Trucks 32‚000 Accum. depreciation-Trucks - Equipment 45‚000 Accum. depreciation-Equipment 12‚200 Accounts payable 5‚000 Estimated warranty liability 1‚400 Unearned services revenue - Interest payable - Long-term notes payable 15‚000 D. Buggs‚ Capital 59‚700 D. Buggs‚ Withdrawals 10‚000 Extermination services revenue 60‚000 Interest revenue 872 Sales (of merchandise) 71‚026 Cost of goods sold 46‚300 Depreciation expense-Trucks - Depreciation expense-Equipment -
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unions all of the above 4. Expenses can be found in the: a. b. c. statement of owner’s equity income statement balance sheet d. e. both b and c all of the above 5. This account does not appear on the income statement: a. b. c. accumulated depreciation depreciation expense sales revenue d. e. marketing expense interest expense 6. A brand new company has a building costing $10‚000‚ machinery costing $5‚000‚ cash of $700‚ and a bank loan of $7‚850. What is the owner’s equity? a. b. c. $8‚850 $15‚700
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Driving through Guatemala and talking to locals in Guatemala opened my eyes to the agriculture. Mostly everything that I saw was similar to the information that I found during the research in my presentation. But seeing what I learned about opened my eyes to the what the country of Guatemala was dealing with. Thought my time while driving through Guatemala I began to discover many interesting things about Guatemala. I noticed that all the farming fields seemed to take over the landscape. It seemed
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