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20) B) machinery and equipment D) land ay Which of the followng at catepoles would incude the cost of clearing land and removing uwanted builMings

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20) B) machinery and equipment D) land ay Which of the followng at catepoles would incude the cost of clearing land and removing uwanted builMings A) bildings C) land improvements 21) nman Company plans to develop a shopping center. In the first quarter, the following amounts were spent $24.000 1500 Acquisition of land Surveys and legal fees Land clearing Fencing Install lighting and signage 100 6000 I60 What amount should be reconded as the cost of the Land in the company's books? A) S28,460 D) $31,100 C) $26,600 B) $32,600 22) 22) Danube Company purchased a used machine for $12.000. The machine required installation costs of S3000 and insurance while in transit of $1500. At which of the following amounts would the machine be recorded? D) $12,000 A) S13,500 B) S16.500 C) $15.000 23) 23) Anderson Company has purchased a group of assets for $23,800. The assets and their relative market values are listed below. Land Equipment Building $7200 2100 3300 Which of the following amounts would be debited to the Land account?(Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) A) 54200 B) $6188 C) $13,566 D) S4046 24) Freeman Company owns a delivery truck. Which of the following costs, associated with the truck, will be capitalized and depreciated? A) normal engine repair 24) B) modification for new use C) replacement of tires D) oil change and lubrication 25) Which of the following requires businesses to record depreciation? A) going concem principle revenue recognition principle 25) B) matching principle D) cost principle 26) Which of the following depreciation methods allocate a varying amount of depreciation to expense each year based on an asset's usage? A) the straight-line method C) the double-declining-balance method 26) - B) the units-of-production method D) the annuity method

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