Student ID: Name: 1) Major Company purchased a piece of equipment. All of the following costs s included in the cost of the equipment EXCEPT for A) insurance while in transit. B) wages of workers who test the equipment before it is placed in service C) employee training costs before the equipment is placed in service. D) transportation costs for shipment to Major Company E) All of the above costs should be included, no exception. 2) On January 1,2015, Roadway Delivery Company purchased a truck for $1 Depreciation Expense is S1,000 per year. During the first year of use, the cos $1,000 to repaint the truck and $2,000 for new tires. What amount is expen year of use of the truck? A) $1,000 B) $2,000 C) $3,000 D) $4,000 E) None of the above answers is correct 3) Pat's Pets recently paid to have the engine in its delivery van overhaules useful life of the van was originally estimated to be 4 years. The overhaul i extend the useful life of the van to 10 years. The overhaul is regarded as al A) revenue expenditure. B) capital expenditure. C) equity expenditure. D) matching expenditure. E) expense management 4) On January 2, 2015. Kaiman Corporation acquired equipment for $300 estimated life of the equipment is 5 years or 40,000 hours.The estimated $20,000. What is the balance in Accumulated Depreciation on December Corporation uses the straight-line method of depreciation A) 530,000 B) 560,000 C) $112.000 D) $120.000 E) My answer is 5) 0a January 2,2015, Kornis Corporation acquired equipment for $0 life of the equipment is 5 years or 40,000 hours The estimated residual What is the balance in Accumulated Depreciation on December 31. 2o1 Student ID: Name: 1) Major Company purchased a piece of equipment. All of the following costs s included in the cost of the equipment EXCEPT for A) insurance while in transit. B) wages of workers who test the equipment before it is placed in service C) employee training costs before the equipment is placed in service. D) transportation costs for shipment to Major Company E) All of the above costs should be included, no exception. 2) On January 1,2015, Roadway Delivery Company purchased a truck for $1 Depreciation Expense is S1,000 per year. During the first year of use, the cos $1,000 to repaint the truck and $2,000 for new tires. What amount is expen year of use of the truck? A) $1,000 B) $2,000 C) $3,000 D) $4,000 E) None of the above answers is correct 3) Pat's Pets recently paid to have the engine in its delivery van overhaules useful life of the van was originally estimated to be 4 years. The overhaul i extend the useful life of the van to 10 years. The overhaul is regarded as al A) revenue expenditure. B) capital expenditure. C) equity expenditure. D) matching expenditure. E) expense management 4) On January 2, 2015. Kaiman Corporation acquired equipment for $300 estimated life of the equipment is 5 years or 40,000 hours.The estimated $20,000. What is the balance in Accumulated Depreciation on December Corporation uses the straight-line method of depreciation A) 530,000 B) 560,000 C) $112.000 D) $120.000 E) My answer is 5) 0a January 2,2015, Kornis Corporation acquired equipment for $0 life of the equipment is 5 years or 40,000 hours The estimated residual What is the balance in Accumulated Depreciation on December 31. 2o1