5. All of the following major types of assets would be included in the general category of property, plant, and equipment on the balance sheet except a. wasting assets b. furniture and fixtures cland purchased for future use d leasehold improvements 6. All of the following costs associated with acquiring a building should be capitalized except a the costs of building permits b. the cost of a strike associated with the construction of the building c. the contract price d the costs of excavation for the building 7. The president of Dozier Corporation donated a building to Mandy Corporation. The building had an original cost of $200,000, a book value of $75,000, and a fair market value of S180,000. To record this donation, Mandy would a. make a memorandum entry b. debit Building for $75,000 and credit Gain for $75,000 c debit Building for $200,000 and credit Gain for $200.000 d. debit Building for $180,000 and credit Gain for $180,000 8. The debit for a sales tax paid on the purchase of a plant asset would be included in a. the plant asset account b. a separate deferred charge account c. miscellaneous tax expense d. accumulated depreciation machinery 9. A plant site donated by a city to Ace Manufacturing, which plans to open a new factory, should be recorded on Ace's books at: a the nominal cost of taking title to it b. its fair market value c. zero value, but footnoted d. the value assigned to it by the company's directors 10. Property acquired through donation is recorded at a. its book value b. its fair market value cits cost d. Zero