Patents and trade marks are? Long term investments (assets) of a corporation are? What account type are markable secutities recorded as upon...
Long term investments (assets) of a corporation are?
What account type are markable secutities recorded as upon purchase?
If an asset is being sold or exchanged, the gain or loss is always computed by comparing the?
Research and Development costs are generally?
A vehicle which cost $40,000 and has an accumulated depreciation of $37,000 is sold for $5,000. The resulting gain or loss is?
Natural resources are accounted for using depletion. How much depletion expense is recognized for a company with iron ore rights costing 1,000,000, with an estimated 100,000 tons of ore avaiable, and 42,000 tons of that ore mined this year?
A patent costing $500,000 was purchased on July 1. The company expects the patent to be useful for 5 years. How much amortization expense is reconized on December 31?
The journal entry for the sale of a vehicle for cash with a gain would include?
Which of the following is true?
A) Land is depreciated using the straight line method
B) Land is amoritized using the decling balance method
C) Land is depleted using the units of production method
D) Land is not depreciated, amoritized or depleted
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