The book value of a plant asset is defined as:
举一反三
- The expected cash value of a plant asset at the end of its useful life is known as:
- The term accumulated depreciation, as used in accounting, is best defined as A: the portion of a plant asset recognized as expense since the asset was acquired. B: funds (or cash) set aside to replace the asset being depreciated. C: earnings retained in the business that will be used to purchase another asset when the present asset is depreciated. D: an expense of doing business.
- Book value is defined as: A: a. disposal value B: b. disposal value less accumulated depreciation C: c. cost less accumulated depreciation D: d. disposal value less original cost
- The entry to record depreciation expense at the end of an accounting period( ). A: reduces the book value of the asset being depreciated B: is an example of an accrual C: reduces the balance in a contra asset acount D: increased the depreciable cost of the asset being depreciated
- The statement of financial position of Chen contains an item of plant with a carrying book value of $8,000. This is traded in for new plant with a cost of $21,000. Chen pays $14,000 in cash towards the purchase of the new plant.What is the loss on disposal of the original plant?(Please enter your answer in the box below (numbers only) for the value in $.)<br/>______