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