Find the situation from below that the named company not record any depreciation expense on the assets described.

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 9, Problem 1STQ

To determine

Find the situation from below that the named company not record any depreciation expense on the assets described.

Expert Solution & Answer

Answer to Problem 1STQ

c) Computer Sales Company has in inventory a new type of computer, designed “never to become obsolete.”

Explanation of Solution

a. Commuter Airline is required by law to maintain its aircraft in “as good as new” condition. Commuter Airline records depreciation expense on its aircrafts. Hence, it is not the correct answer.
b. Metro Advertising owns an office building that has been increasing in value each year since it was purchased. It records the depreciation expense on building. Hence, it is not the correct answer.
c. Computer Sales Company has in inventory a new type of computer, designed “never to become obsolete.” This company does not record any depreciation expense on new type of computer because for this company new type of computer is an inventory. Depreciation is not recorded on the inventory. Hence, it is the correct answer.
d. Option c is the correct answer. Thus, the option (d) none of the above is incorrect answer.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

What was over or under applied manufacturing overhead in September?

Davenport Industries is working on its direct labor budget for the next two months. Each unit of output requires 0.48 direct labor hours. The direct labor rate is $9.20 per direct labor hour. The production budget calls for producing 7,200 units in July and 7,800 units in August. If the direct labor workforce is fully adjusted to the total direct labor hours needed each month, what would be the total combined direct labor cost for the two months?

What was the dollar amount of underallocated or overallocated manufacturing overhead?

Answer 2

Question

Chapter 9, Problem 1STQ

To determine

Find the situation from below that the named company not record any depreciation expense on the assets described.

Expert Solution & Answer

Answer to Problem 1STQ

c) Computer Sales Company has in inventory a new type of computer, designed “never to become obsolete.”

Explanation of Solution

a. Commuter Airline is required by law to maintain its aircraft in “as good as new” condition. Commuter Airline records depreciation expense on its aircrafts. Hence, it is not the correct answer.
b. Metro Advertising owns an office building that has been increasing in value each year since it was purchased. It records the depreciation expense on building. Hence, it is not the correct answer.
c. Computer Sales Company has in inventory a new type of computer, designed “never to become obsolete.” This company does not record any depreciation expense on new type of computer because for this company new type of computer is an inventory. Depreciation is not recorded on the inventory. Hence, it is the correct answer.
d. Option c is the correct answer. Thus, the option (d) none of the above is incorrect answer.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 9, Problem 1STQ

To determine

Find the situation from below that the named company not record any depreciation expense on the assets described.

Expert Solution & Answer

Answer to Problem 1STQ

c) Computer Sales Company has in inventory a new type of computer, designed “never to become obsolete.”

Explanation of Solution

a. Commuter Airline is required by law to maintain its aircraft in “as good as new” condition. Commuter Airline records depreciation expense on its aircrafts. Hence, it is not the correct answer.
b. Metro Advertising owns an office building that has been increasing in value each year since it was purchased. It records the depreciation expense on building. Hence, it is not the correct answer.
c. Computer Sales Company has in inventory a new type of computer, designed “never to become obsolete.” This company does not record any depreciation expense on new type of computer because for this company new type of computer is an inventory. Depreciation is not recorded on the inventory. Hence, it is the correct answer.
d. Option c is the correct answer. Thus, the option (d) none of the above is incorrect answer.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 9, Problem 1STQ

To determine

Find the situation from below that the named company not record any depreciation expense on the assets described.

Expert Solution & Answer

Answer to Problem 1STQ

c) Computer Sales Company has in inventory a new type of computer, designed “never to become obsolete.”

Explanation of Solution

a. Commuter Airline is required by law to maintain its aircraft in “as good as new” condition. Commuter Airline records depreciation expense on its aircrafts. Hence, it is not the correct answer.
b. Metro Advertising owns an office building that has been increasing in value each year since it was purchased. It records the depreciation expense on building. Hence, it is not the correct answer.
c. Computer Sales Company has in inventory a new type of computer, designed “never to become obsolete.” This company does not record any depreciation expense on new type of computer because for this company new type of computer is an inventory. Depreciation is not recorded on the inventory. Hence, it is the correct answer.
d. Option c is the correct answer. Thus, the option (d) none of the above is incorrect answer.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 9, Problem 1STQ

To determine

Find the situation from below that the named company not record any depreciation expense on the assets described.

Expert Solution & Answer

Answer to Problem 1STQ

c) Computer Sales Company has in inventory a new type of computer, designed “never to become obsolete.”

Explanation of Solution

a. Commuter Airline is required by law to maintain its aircraft in “as good as new” condition. Commuter Airline records depreciation expense on its aircrafts. Hence, it is not the correct answer.
b. Metro Advertising owns an office building that has been increasing in value each year since it was purchased. It records the depreciation expense on building. Hence, it is not the correct answer.
c. Computer Sales Company has in inventory a new type of computer, designed “never to become obsolete.” This company does not record any depreciation expense on new type of computer because for this company new type of computer is an inventory. Depreciation is not recorded on the inventory. Hence, it is the correct answer.
d. Option c is the correct answer. Thus, the option (d) none of the above is incorrect answer.

Answer 6

Chapter 9, Problem 1STQ

To determine

Find the situation from below that the named company not record any depreciation expense on the assets described.

Expert Solution & Answer

Answer to Problem 1STQ

c) Computer Sales Company has in inventory a new type of computer, designed “never to become obsolete.”

Explanation of Solution

a. Commuter Airline is required by law to maintain its aircraft in “as good as new” condition. Commuter Airline records depreciation expense on its aircrafts. Hence, it is not the correct answer.
b. Metro Advertising owns an office building that has been increasing in value each year since it was purchased. It records the depreciation expense on building. Hence, it is not the correct answer.
c. Computer Sales Company has in inventory a new type of computer, designed “never to become obsolete.” This company does not record any depreciation expense on new type of computer because for this company new type of computer is an inventory. Depreciation is not recorded on the inventory. Hence, it is the correct answer.
d. Option c is the correct answer. Thus, the option (d) none of the above is incorrect answer.

Answer 7

Chapter 9, Problem 1STQ

To determine

Find the situation from below that the named company not record any depreciation expense on the assets described.

Answer 8

Expert Solution & Answer

Answer to Problem 1STQ

c) Computer Sales Company has in inventory a new type of computer, designed “never to become obsolete.”

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Explanation of Solution

a. Commuter Airline is required by law to maintain its aircraft in “as good as new” condition. Commuter Airline records depreciation expense on its aircrafts. Hence, it is not the correct answer.
b. Metro Advertising owns an office building that has been increasing in value each year since it was purchased. It records the depreciation expense on building. Hence, it is not the correct answer.
c. Computer Sales Company has in inventory a new type of computer, designed “never to become obsolete.” This company does not record any depreciation expense on new type of computer because for this company new type of computer is an inventory. Depreciation is not recorded on the inventory. Hence, it is the correct answer.
d. Option c is the correct answer. Thus, the option (d) none of the above is incorrect answer.

Answer 12

Ch. 9 - Prob. 1STQ Ch. 9 - 2. Which of the following statements is (are)...Ch. 9 - Prob. 3STQ Ch. 9 - 4. Evergreen Mfg. is a rapidly growing company...Ch. 9 - 5. Ladd Company sold a plant asset that originally...Ch. 9 - Prob. 6STQ Ch. 9 - 1. Coca-Cola’s distinctive trademark is more...Ch. 9 - 2. Identify the basic “accountable events” in the...Ch. 9 - Prob. 3DQ Ch. 9 - 4. What is the distinction between a capital...

Find the situation from below that the named company not record any depreciation expense on the assets described.

Videos

Find the situation from below that the named company not record any depreciation expense on the assets described.

Answer to Problem 1STQ

Explanation of Solution

Want to see more full solutions like this?

Chapter 9 Solutions