E 10.32 – Athens Software
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Given development costs incurred through two different years… prepare a journal entry for the development costs of both years.
Given development costs incurred through two different years… prepare a journal entry for the development costs of both years.
Given a list of expenditures that were made during the year… prepare a journal entry that records them.
Given the amount land was purchased for, the commissions, the property taxes, the title insurance, the back taxes, and the current year taxes… determine the amount that the land would be recorded as.
Given the amount that equipment was purchased for, the transportation cost, the sales tax, and the installation cost… determine the cost that equipment should be recorded.
Given the amount that the business was purchased for along with the fair value and reported value for assets and liabilities… determine the amount of goodwill that was paid during the acquisition.
Given the amount that a tract of land was purchased for, the demolition cost, the legal fees, and the proceeds of the sale… calculate the balance in the land account at the end of the year.
Given the lump-sum price that a building was acquired for along with the fair value of the building, land, and fixtures… determine the initial value of each of them.
Given the amount paid for a patent immediately, the amount paid later, and the interest rate… calculate the interest expense that would be recorded.
Gives you equipment price, book value, and fair value. Asks what the gain or loss would be.
Given Land and Cash, Book value, and Fair value for the land… find what Horton would report for the Land and whether there is a gain or loss.