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Chapter 9

BU127 Compiled Chapter 9.docx
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Department
Business
Course
BU127
Professor
James Moore
Semester
Fall

Description
BU127 Compiled Chapter 9 Long Lived Assets • Definite Life o Patents (20 yrs, R&D are Expensed) o Copyrights (50 yrs or benefit) o Franchises • Indefinite Life o Trademarks o Goodwill Acquisition Costs • Buildings o Purchase Price o Renovation and Repair Costs o Legal and Realty Fee o Title Fees • Land o Is not depreciated but is similar to buildings in that there are other fees to  include other then the cost Repairs, Maintenance and Additions • Ordinary repairs: Expense, does not extend life, recurring small amounts • Additions and Improvements: Capital, infrequent, costly and extends life Straight Line Depreciation =Cost – Residual Value      Useful Life in Years Units of Production Method Rate = Cost – Residual Value Life in Units of Production Expense = Rate x Number of Units Produced 
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