Reference no: EM132600292
Question 1: A factory machine was purchased for RM75,000.00 on January 1, 2018. It was estimated that it would have a RM15,000.00 salvage value at the end of its 5-year useful life. It was also estimated that the machine would be run 40,000 hours in the 5 years. The company ran the machine for 4,000 actual hours in 2018. If the company uses the units-of-activity method of depreciation, the amount of depreciation expense for 2018 would be
A. RM7,500.00
B. RM12,000.00
C. RM15,000.00
D. RM6,000.00
Question 2: Which of the following methods of computing depreciation is production based?
A. Straight-line
B. Declining-balance
C. Units-of-activity
D. None of these
Question 3: The depreciation method that applies a constant percentage to depreciable cost in calculating depreciation is
A. straight-line.
B. units-of-activity.
C. declining-balance.
D. none of these.
Question 4: A company sells a plant asset which originally cost RM180,000.00 for RM60,000.00 on December 31, 2019. The Accumulated Depreciation account had a balance of RM72,000.00 after the current year's depreciation of RM18,000.00 had been recorded. The company should recognize a
A. RM120,000.00 loss on disposal.
B. RM48,000.00 gain on disposal.
C. RM48,000.00 loss on disposal.
D. RM30,000.00 loss on disposal.
Question 5: A truck costing RM110,000.00 was destroyed when its engine caught fire. At the date of the fire, the accumulated depreciation on the truck was RM50,000.00 An insurance check for RM125,000.00 was received based on the replacement cost of the truck. The entry to record the insurance proceeds and the disposition of the truck will include a
A. Gain on Disposal of RM15,000.00
B. credit to the Truck account of RM60,000.00
C. credit to the Accumulated Depreciation account for RM50,000.00
D. Gain on Disposal of RM65,000.00
Question 6: Given the following account balances at year end, compute the total intangible assets on the balance sheet of Anisha Enterprises.
Cash RM1,500,000.00
Accounts Receivable 4,000,000.00
Trademarks 1,000,000.00
Goodwill 4,500,000.00
Research & Development Costs 2,000,000.00
A. RM11,500,000.00
B. RM7,500,000.00
C. RM5,500,000.00
D. RM9,500,000.00
|
Explain the importance of good internal control procedures
: Explain the importance of good internal control procedures and summarize the elements of internal control.You are an employee at a full-service bookkeeping
|
|
Shows the six stages of process development
: Shows the six stages of process development. Can you explain the six and how they can apply to your daily life?
|
|
Provide reflection of how the knowledge
: Provide a reflection of how the knowledge, skills, or theories of this course have been applied, or could be applied, in a practical manner to your current work
|
|
Compute the opportunity cost of producing food
: Compute the opportunity cost of producing food instead of textiles. Similarly, compute the opportunity cost of producing textiles instead of food.
|
|
Compute the total intangible assets on the balance sheet
: Compute the total intangible assets on the balance sheet of Anisha Enterprises.A factory machine was purchased for RM75,000.00 on January 1, 2018.
|
|
Safeguarding information and managing risks
: Information Assurance (IA) is the practice of safeguarding information and managing risks related to the use, processing, storage,
|
|
Internship course experience
: In paper based on your internship course experience and the learning objectives achieved during the course, review your internship experience successes
|
|
Explain how to recognize research and development costs
: How do Write the memorandum to respond to Anne's query regarding how to recognize research and development costs. Your discussion should include reference
|
|
Demonstrate what is the size of the monthly payments
: Compute What is the size of the monthly payments? Sean Paul borrowed $20 000.00 from his father to finance his new business. The loan agreement calls
|