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FINANCIAL ACCOUNTING 2-1194 - 1

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FINANCIAL ACCOUNTING 2-1194 - 1

Topic 8

TEST 1- ACCOUNTING 230- GROUP 1- CHAPTERS 10 AND 11

Started onWednesday, 29 July 2020, 11:18 AMStateFinishedCompleted onWednesday, 29 July 2020, 12:00 PMTime taken41 mins 48 secsGrade13 out of 22 (59%)

Question 1

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The depreciation method that produces larger depreciation expense during the early years of an asset's life and smaller expense in the later years is a(an):

Select one:

a. Straight-line depreciation method.

b. Accelerated depreciation method.

c. Units-of-production depreciation method.

d. Book value depreciation method.

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The correct answer is: Accelerated depreciation method.

Question 2

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A company purchased a weaving machine for $190,000. The machine has a useful life of 8 years and a residual value of $10,000. It is estimated that the machine could produce 75,000 bolts of woven fabric over its useful life. In the first year, 15,000 bolts were produced. In the second year, production increased to 19,000 units. Using the units-of-production method, what is the book value of the machine at the end of the second year?

Select one:

a. $190,000.

b. $108,400.

c. $81,600.

d. $144,400.