Ünite Sınavı Soruları

1. Discarding (retiring) of property, plant and equipment assets
2. Sell the long-lived asset for cash.
3. Exchange the long-lived asset for another long-lived asset.

Which of the above is/are the form(s) of the disposal of property, plant and equipment assets?

Which of the following principle indicates that the revenues of a period must be matched with the expenses of the same period for calculating the profit/loss of the period?

1. purchase price
2. brokerage commission
3. survey and legal fees
4. property taxes in arrears

Which of the item/items mentioned above is included in the cost of the land?

A company spends some money on the painting of  the interior of its building. In this situation, how will the company record its expenditure in its journal?

Which one is NOTmajor characteristics of Property, plant and equipment assets?

BB Co. purchases a machinery on January 1st 2019 for 200,000 TL. They also pays 20,000 TL for transportation and insurance during transportation. BB Co. estimates to use the machine for 5 years and at the end of it useful life it is estimated to be sold at 40,000 TL. Company will apply straight-line depreciation method for the machinery. Which of the following is the annual  depreciation expense?

A company bought a new machine for 23.000 on January 1. The machine is expected to last four years and to have a residual value of 3.000. If the company uses the double-decliningbalance method, accumulated depreciation at the end of year 2 will be

A company makes an expenditure for a building it owns, and this extends the useful life of the building. How will this company record this expenditure in the journal?

For an economic resource to be recognized as an asset, ________.

Which of the following completes the sentence above?

ABC Co. purchased a building to use for managerial purposes for 2,500,000 TL and also paid title deed fees for 100,000 TL. They also have the exterior and interior of the building painted to a construction company for 30,000 TL and paid the amount in cash.Which of the following is the cost of the building?

Anadolu Co. sells its machine for 150,000 TL. When the machinery was purchased three years ago the capitalized cost of the machinery was 350,000 TL (The machine is estimated to have been used used for 5 years). Anadolu Co. applies straight-line depreciation method and the machinery has an accumulated depreciation of 210,000 TL. How will Anadolu Co. record this sale in the journal?

Assume that the purchase price of the machine is 150,000 TL, transferring costs 5.000 TL and the strengthening operation costed 10,500 TL. What is the total cost of this machine?

Which of the following is not included in the cost of the land?

1. Cost consists of some expenditures necessary to acquire the asset and make it ready for its intended use.
2. Cost is the cash or cash equivalent price of obtaining the asset and bringing it to the location and condition necessary for its intended use.
3. The cost of the property, plant, and equipment assets does not only consist of the purchase price of the asset.
4. Added to the purchase price cash or cash equivalent prices for transferring, installment, assembling, insurance during transfer, permits, etc. must be included.

Which of the statements above in terms of the concept of cost are correct?

1. Purchase price
2. Survey and legal fees
3. Property taxes in arrears

Which of the items stated above is/are included in the cost of the land?

XYZ Co. purchases a minivan to use in marketing department for 300,000 TL. They also pays 50,000 TL for renovation. Which of the following is the cost of this minivan?

Which of the following is defined as the cash or cash equivalent price of obtaining the asset plus all necessary taxes, purchase commissions and all other amounts paid to ready the asset for its intended use?

On October 1, 2012, Freedom Communications purchased a new piece of equipment that cost 35.000. The estimated useful life is five years and estimated residual value is 8.000. What is the depreciation expense for 2012 if freedom uses the straight-line method?