credit to contributed capital Incorrect Question 17 0/3.5 pts A partnership is often formed by the joining together of sole trader businesses. Assets other than cash and liabilities are sometimes contributed. If a depreciating asset is brought into the partnership, it will be recorded in the partnership accounts (books) with: debit to asset and credit to accumulated depreciation (as per the partners original accounts) c. debit to asset and credit to accumulated depreciation (as per agreed amounts) b. debit to asset only as per the current market value) d. debit to asset only (as per the carrying amount in the partners original accounts 3.5/3.5 pts Question 18 Unanswered Question 22 0/3 pts Orange & Emily purchases a block of land for a new building site. The purchase price is $200,000 plus $10,000 in stamp duty and fees paid to the the State Government and the lawyers. Included on the land are two small buildings that must be removed at the cost of $8,000. In addition, the land requires $50,000 in logging, grading and filling before it can be used. Orange and Emily also spends $20,000 on footpaths and outdoor lightings... What is the total cost for LAND? $200,000 $268.000 $210,000 $288,000 (17) - Assessment 1- Online Quiz in Week 3... Search All Matches $288,000 wered Question 23 0/3 pts -? Which of transaction listed below is classified Financing activity? Payments to reduce the Bank Loan Purchase of New Motor Vehicle Payments for Wage and Rent, Electricity Expense Cash received from Sales of Land and Building Unanswered Question 24 0/3 pts Inventories Balance on 30th June 2016: $5,000 Inventories Balance on 30th June 2017: $3,000 Accounts payables on 30th June 2016: $12,000 Accounts payables on 30th June 2017: $15,000 Cost of goods sold for the year ended 30th June 2017: $50,000 What is the cash payment to suppliers of inventory during the year 2017? $45,000 $49.000 $55,000 $51.000 Unanswered Question 25 0/3 pts If the total Cash Operating Expense incurred during 2015 was $10,000 and Balances for all prepayments are: $6000 in year 2015 and $8000 in year 2014 Balances for all accurals/payables are: $5,000 in year 2015 and $ $3,000 in year 2014. What total Cash paid for Operating expenses in year 2015 ? $10,000 $14,000 $6000 $12.000 0/3 pts Unanswered Question 26 073 pts Below is details of Cashflows for Linh Suit Ltd for year 2015-2016: Beginning Cash Balance : $100,000 Ending Cash Balance : $600,000 Total Investing Cashflows : $200,000 Total Financing Cashflows : $150,000 What is total Operating Cashflows? $1,050,000 $150,000 $250,000 Honestly, I do not know. This is too hard ! (17) ( Assement - Online Quiz in Week 3. Search Al Matches.com Unanswered Question 28 0/3 pts What are good examples for Cashflows from Operating acitives? (1). Payments for inventories and machinery (2). Cash Receipts from customers and Sales of old equipments (3). Cash Payments for Wages and Insurance expense (4). Cash received from an issue of shares and bonds (1) and (2) (2) and (4) (3) only (1) and (3) 0/3 pts Assessment - Online Quiz in Week 3. See All Matches Che (1) and (3) Unanswered Question 29 0/3 pts Tenkar Supply purchased a machine for $25,000 and paid extra $ 5.000 for the staff safety training course. The machine is estimated to have a residual value of $10,000 at the end of its useful life (after 100,000 machine hours used). What would be the depreciation expense of the machine in the second year if it is assumed that 20,000 machine hours would be used in the second year? $6,000 for depreciation expense in second year. $4,000 for depreciation expense in second year $3,000 for depreciation expense in second year I dont know, because the question did not give me information on first year ine! 3/3 pts no Honestly, I do not know. This is too hard ! Unanswered Question 27 0/3 pts Which one of non-current assets listed below would not be depreciated in value? Equipments Land Motor vehicles Factory 0/3 pts Unanswered Question 28