Wriat 13 December 31, 2015 A) $960. B) $95,000. 28) Natural resources such as oil or minerals are categorized as intangible assets. A) True B) False 29) To capitalize an expenditure means charging it to an asset account A) True B) False ted depletion is a contra-equity account and is recorded in the stockholders' 30) Accumula equity section of the balance sheet. A) True B) False Ding Company traded in one of its automobiles for a newer model. This transaction may 31) result in a gain or a loss being recorded on Ding's financial statements. A) True B) False 32) The book value of equipment: A) Decreases with the passage of time. B) Increases with the passage of time. C) Remains the same with the passage of time D) May increase or decrease depending upon the economy. 33) Tim bor owns equipment with historical cost of $18,600; the accumulated depreciation now $10,000. IF the equipment is sold for $9,100, what amount of gain or loss will is be recognized at the time of this sale? A) A loss of $800. C) A loss of $9,500. B) A gain of $900. D) A gain of $500