D1 Wollord Stores, Inc, poupht displue shetves for $12,000.00. They tame an extimited salage value of $2,00000 and an estimated useful sfe of 5 years. The yearty dopreciation experse issing the \$righbline method is $7,000.00. Q2. When lans and buldeng are purchasod for a single prices the purchase is reconded to a single plant asset account erbtind hand and buldings. No matter which depreciation method is used, the adjusting entry to record depresintion involves a debit to Accumulated Desredation and a cedi to Depredation 04 Expense 05. Land is nat subject to deprocition because land values welully increase over time. When actousteng for plant assets under ithernational financil reporting standards, the cost awsned to the engine of a truck may be deprecistrd over a affererk 06 number of years than the truck body. 07. The Coing Concem concept states that fruncai statenerts are prepared with the eqpectation that a business will remain in operation indefictek. 08 Ts crarge more deprectotion eppense in the early years of a plant assets life, the dediring-talence method applies a laged percentage rate in those early years. 09 Snce tress are a rinewabie resource, logging bushesses record depredabon on the land that contiins the timber tands. 10 Euspusses most cften etimate the sahoge value of an asset as the time the asset is diocarded., defreciation method 04 Expense. 06 number of yous than the truak body. 07. The Going Concem conceet states that financisl statements are prepared with the expectation thut a business will remain in coeration indefinitely 08 To charge eere depreciation experse in the early years of a plant asset's the, the declining-tabiance method applies a larger percentage rate in those eaply rears. 09. Sinse tiees are a renewable resource, logging businesses record depreciation on the land thet contains the timber utands. 10 Alusineses mort of chon eximate the salvoge value of an asset at the time the asset in dricarded. 11 deprecistion method. 13. An atsett inssessed value for proosity tax purposes may be diflerent trom the assets book value, 14 To use the units-ofproduction deprecistion method for a vehide, the eqimstod usetul tife could be sosted in number of mies. 15 The cost of exanding a reail stores pasing be shoud be recorded as an expense in the you the cont is incurred