RSM220H1 Study Guide - Final Guide: Technisches Hilfswerk, Income Statement, Accounts Receivable

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30 May 2014

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Please answer all questions on this exam paper (or in booklets, etc. ) 8 questions you must answer all questions. Required: please answer the following questions (2 marks each) by choosing the best answer: 1. which of the following statements best describes the accounting for intangible assets after acquisition under. No: zenox corp"s comparative balance sheets as at december 31, 2012 and december 31, 2011 reported accumulated depreciation balances of ,000 and ,000, respectively. Property with a cost of ,000 and a carrying amount of ,000 was the only property sold in 2012. Depreciation expense for 2012 was: ,000, ,000, ,000, ,000, none of the above. 4. hopper company acquired machinery on january 1, 2005 which it amortized under the straight-line method with an estimated life of fifteen years and no residual value. On january 1, 2010, hopper estimated that the remaining life of this machinery was six years with no residual value. 5. parry co. purchased land as a factory site for ,000.