Uly lyx.com.servlet/Servleticod11218 DETTE Question 3 [10 points] Choose the term that best matches each of the following descriptions a) Select answer A major category of long lived assets that anse from legal rights and do not have physical substance b) Select answer An accelerated depreciation method where the depreciation can be calculated as carrying amount or not book value) x (2 stimated useful life) c) d) Salate e lewer 1) siect The value of the trade in agreed by the purchaser and seller The estimated worth of an asset at the end of its estimated use te Cost of an assot less accumulated depreciation of the asset The assumption that an asset wil contbute to the ottning of revenues equally each time period The acquisition of a non-current asset including any additional costs involved in prepanng the asset for its intended use Allocation of a PPE asset (except land) over the accounting periods expected to receive benefits from its use The assumption that a plant and equipment asset will contribute more to the saming of revenues in the earlier stages of its useful life than in the later stages An intangible asset that condars on the holder an exclusive legal privilege to publish a terary or artistic work g) lecter h) Sedan et annet 1) Select Question 4 (20 points] Kelly Young Dalas Glynn and Frank Lovens invested $45.000, $45000 and 500.000 respectively in a partnership During its first year the firm recorded a net income of $124 800 IE Type betooth o ANG 16.30 13-02 Uly lyx.com.servlet/Servleticod11218 DETTE Question 3 [10 points] Choose the term that best matches each of the following descriptions a) Select answer A major category of long lived assets that anse from legal rights and do not have physical substance b) Select answer An accelerated depreciation method where the depreciation can be calculated as carrying amount or not book value) x (2 stimated useful life) c) d) Salate e lewer 1) siect The value of the trade in agreed by the purchaser and seller The estimated worth of an asset at the end of its estimated use te Cost of an assot less accumulated depreciation of the asset The assumption that an asset wil contbute to the ottning of revenues equally each time period The acquisition of a non-current asset including any additional costs involved in prepanng the asset for its intended use Allocation of a PPE asset (except land) over the accounting periods expected to receive benefits from its use The assumption that a plant and equipment asset will contribute more to the saming of revenues in the earlier stages of its useful life than in the later stages An intangible asset that condars on the holder an exclusive legal privilege to publish a terary or artistic work g) lecter h) Sedan et annet 1) Select Question 4 (20 points] Kelly Young Dalas Glynn and Frank Lovens invested $45.000, $45000 and 500.000 respectively in a partnership During its first year the firm recorded a net income of $124 800 IE Type betooth o ANG 16.30 13-02
