E7-22A – Self Storage
Financial Accounting
Thomas, Tietz, and Harrison
12th Edition
Given the self-storage information – find the capitalized cost of land, land improvements, and building.
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Given the self-storage information – find the capitalized cost of land, land improvements, and building.
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Given the information on New Morning Bakery closing its operations… calculate accumulated depreciation, book value, the gain or loss on the sale, and then record the sale of the ovens.
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Determine which costs should the company capitalize on the Patent account and report as research and development expenses, as well as the criteria on whether to capitalize or expense intangible related costs.
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Calculate depreciation for the first year using straight-line, double-declining-balance, and activity-based.
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Calculate depreciation expense using the activity-based method.
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Record the purchase, the amortization in all years, legal fees, and what is the balance in the Patent account.
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Record the sale.
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Determine the amount of the impairment loss.
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Calculate the activity rate for each of the activity cost pools used by Green Thumb Gardening, a small gardening service that uses activity-based costing to estimate costs. The activity cost pools include the size of customer lawns, the size of customer garden beds, the distance to travel to customers, the number of customers, and the type of garden bed maintenance (low or high). Use the provided annual costs and activity information to determine the activity rate for each cost pool. Round your answers to two decimal places.
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What is the total overhead cost assigned to product A?
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