7) Which of these items is NOT included as furniture and fixtures? AJ Desk B) Shelving C) Chairs D) Copy machine 8) The method to allocate the total cost of several assets purchased together is called: A) Relative-Market-Value method B) Relative-Cost-Value method C) Lump-sum Value method D) Lump-sum Cost method 9) Anderson Corporation purchased a group of assets for $15,700. The assets and their relative market values are: Land Equipment $7,000 $2,100 $3,500 Building What amount would be debited to the Land account? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) A) $4,200 B) $8,792 C) $2,669 D) $4,396 10) Westin Delivery Service, Inc. owns a delivery truck. Which of these costs will be treated as Repairs Expense (revenue expenditure)? A) Oil change and lubrication B) Major engine overhaul C) Modification for new use D) Addition to storage capacity 11) The expected value of a depreciable asset at the end of its useful life is called its: A) Book value B) Residual value C) Carrying value D) Market value 7) Which of these items is NOT included as furniture and fixtures? AJ Desk B) Shelving C) Chairs D) Copy machine 8) The method to allocate the total cost of several assets purchased together is called: A) Relative-Market-Value method B) Relative-Cost-Value method C) Lump-sum Value method D) Lump-sum Cost method 9) Anderson Corporation purchased a group of assets for $15,700. The assets and their relative market values are: Land Equipment $7,000 $2,100 $3,500 Building What amount would be debited to the Land account? (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.) A) $4,200 B) $8,792 C) $2,669 D) $4,396 10) Westin Delivery Service, Inc. owns a delivery truck. Which of these costs will be treated as Repairs Expense (revenue expenditure)? A) Oil change and lubrication B) Major engine overhaul C) Modification for new use D) Addition to storage capacity 11) The expected value of a depreciable asset at the end of its useful life is called its: A) Book value B) Residual value C) Carrying value D) Market value