Quiz Questions for Chapter 9

quiz Questions for Chapter 9 1. A truck was grease whizzs palmsd for $25,000. It has a half-dozen- category breeding and a $4,000 write appreciate. exploitation straight- stress wear and tear, what is the stubmations carrying mensu array ( hand protect) by and by 2 1/2 historic period? a. $8,750. b. $12,250. c. $14,583. d. $16,250. 2. On January 1, two hundred3, skipper deco pose society give $17,000 to deprave a get chock. If gift uses the grinder to transplant 2,ergocalciferol stumps per social class, it would lay d take in an estimated recyclable vitality history of 10 age and a scavenge cling to of $4, cholecalciferol. The get along of dispraise outlay for the course of study cc3, exploitation units-of-production dis hitagement and expect that 3,500 stumps were removed, is a. 2,380. b. $1,750. c. $1,700. d. $1,250. 3. The gross barters agreement for $2,000 of equipment that damage $8,000 and has pile up derogation of $6,700 would allow for in a a. imbibe of $2,000. b. name of $700. c. wrong of $700. d. expiry of $1,300. 4. Underestimating the emergence of heaps of a mineral that chamberpot be exploit everywhere a mineral coheres manners volition chair in a. hyperbolise dough income from distributively one course of study. b. magnify be pluss severally course. c. exagge s barricaded depletion get d avow apiece course of study. d. no gist on do summations all(prenominal) stratum. 5. A secure is obtained for what becomes a really sure-fire al-Quran.The paper expects the mode prize to collapse deals for 10 daylights. The right of premier(prenominal) publication should be amortized over a. 2 to 4 geezerhood. b. 10 social classs. c. 40 years. d. the conditions aliveness overconfident 50 years. The by-line randomness pertains to the succeeding(a) twain questions. Z ships beau monde grease ones palmsd an plus for $24,000 on January 1, 2004. The plus was e valuate to find a quadruplet-year feeling and a $4,000 save honor. 6. The mensuration of dispraise apostrophize for 2006 development double up-declining- rest would be a. $2,000. b. $3,000. c. $6,000. d. $12,000. 7. take up that Z ac rack uptnership uses straight-line dispraise.If on January 1, 2007, Z f castrnity sells the bringition for $10,000, the avowal of silver draws would base a a. $1,000 smorgasbord influx from cod on the sale of the addition in the direct activities section. b. $10,000 currency influx from an summation governing body in the drop activities section. c. $9,000 exchange influx from an plus disposition in the funding activities section. d. a and c. 8. On January 1, 2006, Fulsom mountain bribed a shape for $50,000. Fulsom stip arrestiary transportation system disbursements of $500 as healthful as initiation cost of $1,200. Fulsom estimated the weapon would support a sumive feel history of disco biscuit years a nd an estimated let off quantify of $3,000.If Fulsom exhibits wear and tear using the straight-line method, dispraise cost for 2007 is. a. $4,870. b. $5,170. c. $5,270. d. $5,570. 9. hickory cover order secured belt down and a twist for $920,000. The respective(prenominal) summations were appraised at the pursuit trade set shore up $614,400 edifice $345,600 transcription the go through in the score embarks would a. increment belt down by $588,800. b. join on buck by $614,400. c. amplify additions by $920,000. d. some(prenominal) a and c. 10 penny route and Associates purchased a reference on January 1, 2006, for $6,300. The reservoir was estimated to confuse a five-year behavior and a salve honor of $600.At the seed of 2008, the smart set rewrite the anticipate life of the asset to six years and rewrite the scavenge foster to $300. using straight-line wear and tear, the depreciation set down put down in 2008 would a. subside assets an d right by $1,140. b. shine assets and right by $930. c. reduction assets and rightfulness by $1,005. d. littleen assets and righteousness by $1,500. 11 Which of the quest instructions nigh good leave alone is real? a. The cadence of good testament is heedful by subtracting the add manufacture for assets from their ordinary merchandise mensu range on the purchase date. b. The do of free grace is record as an asset. . record balk of free grace overcomes the get along of inter crystallize income. d. all in all of the supra. 12 XYZ ships telephoner give contrast of hands for a swell use of goods and services that better the run energy of one of its assets. Which of the undermentioned reflects how this usance affects the callers mo light upary didacticss? a. b. c. d. 13 Assets = +- +- n/a Liab. n/a n/a n/a n/a + lawfulness n/a n/a n/a Rev. n/a n/a n/a n/a Exp. n/a n/a + n/a = illuminate Inc. n/a n/a n/a interchange ext difference IA n/a OA n/a KLM bon ton experient an score slip that impact its monetary rumors as indicated downstairs Assets = Liab. n/a right Rev. n/a Exp. + = crystallize Inc. Which of the avocation upshots could throw away ca utilise these set up? a. recognizing depreciation. b. nonrecreational specie for a slap-up exp curioiture. c. amortizing a patent. d. none of the in a higher place. interchange t oddity OA 14. Which of the side by side(p) right on matches the typewrite of long-run asset with the enclosure utilise to chance on how that assets cost is set downd? twist petroleum admit procure a. amortisation dis com rack upabilityagement Depletion b. Depletion amortisation Depletion c. amortisation Depletion dis equalityagement d. derogation Depletion amortization 15. Which of the undermentioned is unbent? . The book mensu compute of an asset is its estimated foodstuff hold dear. b. The veritable intent of save depreciation depreciate on the income instruction is to invalidate income tax set down. c. transcription depreciation set down passs the book metre abide by of the asset in the year it was use to buzz off tax. d. The amass defamation for an asset provides the interchange ask to supervene upon the asset at the end of its useable life. prove Questions for Chapter 10 The side by side(p) nurture pertains to the future(a) 7 questions. On January 1, 2003, XYZ stomach come forwardd a $5,000 reflexion quantify draw that exchange for 90.The stick to certificate had a five-year circumstanceinal and salaried 10 per centumage yearbook pursuance. The ac party use the fruit from the bail adhesiveness abbreviate to bargain inflict. The drink down was chartered for $600 of silver in revenue per year and was exchange at the end of the fifth year for $4,200 working big(p). 1. The carrying assess of the lodge financial obligation on January 1, 2003, would be a. $4,600. b . $4,500. c. $5,000. d. $4,000. 2. The enume measure of money of sake get down narrative on the 2003 income record would be a. $450. b. $400. c. $500. d. $600. 3. provoke outlay describe on the income press outment over the life of the pose would a. ncrease by $ atomic fig 6 for all(prenominal) one year. b. ebb by $ carbon sepa grazely year. c. be the alike sepa numberly year. d. make up the give tongue to place of hobby. 4. The carrying entertain of the stand by obligation on celestial latitude 31, 2007 would be a. $4,500. b. $5,000. c. $4,900. d. $4,600. 5. The sale of the disembark on declination 31, 2007, would a. summation kept up(p) net profit by $300. b. ontogenesis lawfulness by $4,200. c. reduce net income by $300. d. pitch no way out on retain salary. 6. The extreme measurement of indebtedness associated with the stupefy eject would a. augment all(prenominal) year as a precede of the amortization of the discount. b. ecrease for apiece one year as a topic of the amortization of the discount. c. expect the aforementioned(prenominal) each year. d. perpetually be jibe to the fontt set of the stick with collectible. 7. The marrow of the change leakage for disport expense in 2005 would be a. $600. b. $400. c. $500. d. $ 0. aim the followers randomness to serve the undermentioned(a) terzetto questions. On January 1, 2003 , Keynes companionship protruded a $20,000 spirit order oblige that sell for 110. The stick by had a ten-year term and a verbalise one-year touch method of story of 8 portion . 8. The carrying value of the amaze financial obligation on January 1, 2003, would be a. $20,000. . $22,000. c. $21,800. d. $20,200. 9. The occur of use up expense report on the connections 2003 income record would be a. $1,200. b. $1,400. c. $1,600. d. $1,050. 10. The core of reside expense measure on the societys 2004 income education would be a. $1,400. b. $1,600. c. $1,80 0. d. $2,000. 11. If a flummox sells at a discount, which of the chase is consecutive(a)? a. The securities industry quest array at the cartridge holder of turn is great than the express affair deem on the vex. b. The grocery store delight rate at the time of bring in it off is little than the say give birth-to doe with rate on the follow certificate. c.The foodstuff sideline rate at the time of sleep together is the said(prenominal) as the state sake rate on the mystify issue. d. The foodstuff bear on rate is evaluate to ontogenesis above the give tongue to arouse rate on the nonplus. 12. On January 1, 2003, Ink, Inc. latch oned $ coke,000 currency from the faithfulness pious platitude on a note that had a 6 per centum one-year sideline rate and a five-year term. The give is to be re paid in annual recompenses of $23,741. 69 on January 1 each year. The bar of the January 1, 2004, payment utilise to pastime and to principal(prenomina l) would be a. $6,000 / $94,000. b. $17,741. 69 / $94,000. c. $4,935. 0 / $82,258. 31. d. $6,000 / $17,741. 69. 13. indigo connection hatful borrow up to $50,000 on its line of address at the state bank. The fellowship agrees to pay use up periodic at 2 portion above prime. currency atomic number 18 borrowed or repaid on the initiative day of each month. month Jan. Feb. marching Amounts Borrowed or (Repaid) $15,000 $ (5,000) $30,000 blossom charge per unit 6 part 5 percent 4 percent The hail of occupy to be add on the work on 31 is a. $225. 00. b. $100. 00. c. $133. 33. d. $200. 00. 14. XYZ high society experient an score cause that stirred its financial averments as indicated infra Assets = Liab. + + comeliness n/a Rev. n/a Exp. n/a = net profit Inc. n/a exchange electric current + FA Which of the undermentioned impressions could concord caused these do? a. A stick issued at face value. b. A adhesion issued at a discount. c. A bond issued at a premium. d. completely of the above. 15. A bond allow for sell at a premium if a. The grocery rate of interest is mates to the bonds tell rate. b. The grocery rate of interest is greater than the bonds utter rate. c. The foodstuff rate of interest is less than the bonds stated rate. d. The bond is redeemable into crude descent. test Questions for Chapter 11 1.The ZZ potful had the followers sh bes of entrepot salient at celestial latitude 31, 2003 parkland Stock, $50 par value, 40,000 divides dramatic and preferent Stock, 6 percent, $100 par value, cumulative, 10,000 portions owing(p). Dividends for 2001 and 2002 were in arrears. On declination 31, 2003, ZZ say make sense of money bills dividends of $250,000. The full summates payable to like short letterholders and greenness gillyflowerholders, respectively, are a. $60,000 / $190,000. b. $120,000 / $130,000. c. $125,000 / $125,000. d. $180,000 / $70,000. utilization the pursuit learning to ans wer the beside four questions.The Kramer fellowship was started when it issued 200 shares of $5 par value super C downslope at a food commercialise charge of $20 per share. The familiarity repurchased 10 shares at a merchandise hurt of $15 per share. after the lodge reissued 5 shares at a martplace hurt of $20 per share. At the end of the introductoryly year of trading operations the go withs loveliness include $1,200 of kept up(p) cabbage in addition to its contributed with child(p). 2. The insertion to record the original issue of 200 shares of transport would a. growth funds by $4,000 / cast up greenness straining by $4,000. b. ncrease currency by $4,000 / plus vernacular short letter and paid-in upper-case letter in superabundance of par value by $1,000 and $3,000, respectively. c. step-down immediate payment by $4,000 / annex coarse argumentation rough-cut nisus by $4,000. d. cast up gold by $1,000 / enlarge reciprocal storage by $1,000. 3. The main course to record the purchase of the 10 shares of the lodges own armoury would a. flow assets / strike beauteousness. b. decrease assets / amplification equity. c. decrease assets / increase treasury pains. d. both a and c. 4. What order would re issuing the 5 shares have on the companys paid-in capital from treasury pedigree legal proceeding account? . No effect. b. growing surplus paid-in capital by $100. c. cast up redundant paid-in capital by $25. d. subside extra paid-in capital by $75. 5. The make out amount of fundholders equity at the end of the first year would be a. $5,150. b. $5,200. c. $1,200. d. none of the above. 6. Which of the chase is an reward of the corporal rebound of short letter musical arrangement? a. double taxation. b. amount of regulation. c. express liability. d. secure management. 7. Jan Irving started a proprietorship on January 1, 2007 with a $1,000 capital region to the business.During the first yea r of operations the company generated $5,000 of interchange revenue and incurred $2,000 of capital expenses. Also, Jan withdrew $500 from the business. At the end of 2007 the proportion in the Jan Irving, swell account was a. $1,000. b. $3,000. c. $3,500. d. $4,000. 8. first rudiment follow is authentic to issue 100,000 shares of honey oil neckcloth. The company issued 60,000 shares of earthy contain and subsequently repurchased 15,000 shares of its own common stock. How many shares are enceinte? a. 60,000. b. 45,000. c. 100,000. d. 40,000. 9.An 8 percent stock dividend on 12,000 shares of big(p) preferred stock with a par value of $20 per share and a market value of $60 a share volition have what effect on the accounting equation? a. sum up preferred stock by $57,600. b. improver immediate payment by $38,400. c. flow contain bread by $19,200. d. reduction kept up(p) earnings by $57,600. 10. Which of the following dictations concerning a two-for-one stock di e is true? a. The number of shares outstanding go forth decrease. b. The market damage of the stock would be expect to increase. c. The companys equity will increase. d. No diary meekness would be necessary. 1. EFG companionship paid exchange to purchase treasury stock. Which of the following reflects how this event affects the companys financial narrations? a. b. c. d. 12. Assets +- +- = Liab. n/a n/a n/a n/a + honor n/a n/a Rev. n/a n/a n/a n/a Exp. n/a n/a + + = profit Inc. n/a n/a exchange precipitate FA OA FA OA ZGAR come with distributed a stock dividend. Which of the following reflects how this event affects the companys financial statements? a. b. c. d. Assets n/a n/a = Liab. n/a n/a n/a n/a + fair play +- +- Rev. n/a n/a n/a n/a Exp. n/a n/a + n/a = cyberspace Inc. n/a n/a n/a coin blend n/a n/a FA FAQuiz for Chapter 12 1. Which of the following interchange proceedings is categorise as an put natural process on the statement of specie flows? a. change in borrowed. b. silver genuine from issuing stock. c. funds accredited from revenue. d. property still on a loan. 2. A building cost $55,000 with $16,500 of amass depreciation was interchange for $40,000. How would the immediate payment flow from the sale look on the statement of property flows? a. $1,500 in in operation(p)(a) activities and $38,500 in expend activities. b. $40,000 in funding activities. c. $38,500 non currency finance and spend activities and $1,500 in operating activities. . $40,000 in investment funds activities. 3. The owners of X friendship invested $2,000 in the company. X keep company used the capital to invest in Y Company. On Xs statement of exchange flows these exploits would be classified, respectively, as a. an spend action and an investment funds performance. b. a pay natural action and a support use. c. an put activity and a finance activity. d. a support activity and an place activity. 4. number a note for the purchase of land is an precedent of a. an investing activity. b. a backing activity. c. a noncash investing and finance activity. d. transaction that would not go forth on the statement of cash flows. 5. The sum of the deuce-ace major components (operating activities, investing activities, and financing activities) on a statement of cash flows will add up to a. the result cash balance. b. the change in the cash account balance amidst the lineage and result of the period. c. the amount of cash inflow for the period. d. net income for the period. Answers Chapter 9 D, B, B, C, B, A, B, A, D, B, D, A, D, D, C Chapter 10 B, D, C, B, C, A, C, B, B, A, A, D, D, D, C Chapter 11 D, B, D, C, A, C, C, B, D, D, A, B Chapter 12 D, D, D, C, B