1 pts Question 11 52) Which of the following would be recorded as land improvements? OA) Property taxes OD) Adding a parking lot. OO Real estate commissions OB Title insurance. Question 2 92) The cost of an engine tune-up is an example of which of the following expenditures after acquisition? OB) Additions OO Improvements. OD) Capitalized costs. OA) Ordinary repairs and maintenance. Question 3 1 pts 119) A company purchased equipment for $240,000 on March 1, 2021. The estimated service life is six years with a $60,000 residual value. The company records partial-year depreciation based on the number of months in service. Depreciation expense for the year ended December 31, 2021, using straight-line depreciation, is: OD) $25,000 O $30,000 OA) $33,333 OB) $40,000 1 pts Question 4 100) Which of the following statements accurately describes depreciation! 1. Depreciation is used to allocate the cost of the asset over periods benefited 2. Depreciation is used to track the fair value of the asset. III. The book value of an asset is its original cost less accumulated depreciation, OD All of these statements are correct Oland OA) and I O 81 and Question 5 1 pts 57) A company purchased a commercial dishwasher by paying cash of $8,000. The dishwasher's fair value on the date of the purchase was $10,000. The company incurred $600 in transportation costs, $500 installation fees, and paid $300 annual insurance on the equipment. For what amount will the company record the dishwasher? O $8,000 OB 19.100 O DI $9.400 ON) $10.000 D Question 6 1 pts 116) A company purchased a delivery truck on January 1, 2021, for $65.000 The truck has an estimated life of 10 years and an estimated residual value of $5,000. the company uses straight-line depreciation, what would be the book value after four years? O $36.000 O $60,000 OA $41.000 OD $24,000 1 pts Question 7 1 pts 115) Equipment with a cost of $390,000 and estimated residual value of $60.000 is expected to have a useful life of 30,000 hours. During August, the equipment was operated 700 hours. What amount should be recorded as depreciation expense for the month? OB) $7,700. D) $7,000. OC) $9,100. OA) $8,400. Question 8 1 pts 55) A company purchased new equipment for $60,000. The company paid cash for the equipment. Other costs associated with the equipment were: transportation costs, $1,000; sales tax paid $3,000; and installation cost. $2,500. The cost recorded for the equipment was: B) $61,000. C) $64.000. D) $66,500. OA) $60,000. D Question 9 90) Which of the following subsequent expenditures would be capitalized? B) Costs that increase the service life of an asset. C) Routine maintenance. OA) Ordinary repair. OD) Ordinary repair and routine maintenance. Question 10 1 pts 112) A machine has a cost of $15,000, an estimated residual value of $3,000, and an estimated useful life of four years. The machine is being depreciated on a straight- line basis. At the end of the second year, what amount will be reported for accumulated depreciation? OA) $9,000. OB) $6,000 D) $3,000. O C) $7,500. 1 pts