music chapt 7

gordon company

11.4%

asset turnover ratio

net sales divided by average total assets

accelerated methods of depreciation

MACRS declining-balance method double declining balance method

the service life of an intangible asset may be limited by what types of provisions

all except US GAAP

capitalized in the cost of equipment

all except repair costs for first year, training costs for employees

depreciation is a process of cost ____ and not a process of valuation

allocation

depreciation is

an allocation of a cost of an asset

return on assets is calculated as net income divided by

average total assets

the term ___ means to record the expenditure as an asset

capitalize

intangible right is successfully defended, the legal costs should be

capitalized

Sherman

captitalize 114,000

units of production depreciation rate

cost-residual value/est total production

Pearce

cred equip 120,000 deb equip 50,000 deb loss on exchange 30,000

cheng

deb equip 40,000 cred equip 90,000 deb loss 10,000

land improvements tend to have a ____ life

limited

patent developed internally, the research and development costs are

expense as incurred

capitalized as an asset for an internally developed patent

filing fees legal fees

capitalized as an asset for a patent

filing fees purchase price attorney fees

intangible assets are categorized as those with finite lives and those with

indefinite

trademark

indefinite

costs are capitalized as an intangible asset for a franchise

legal costs initial payment

noncurrent tangible assets include

property equipment plant

the depreciable cost of an asset is the asset's cost minus its ___ value

residual

not accelerated methods of depreciation

straight line units of output

total aquisition cost is allocated to the individual assets by multiplying the lump-sum purchase price times

the relative fair value percentages of each asset