No.

Mahasiswa:

A Quiz 6 : Ch 7 (15 minutes) 5.   PT Andini purchased land, building, and

equipment from for cash payment of Rp.
160 million. The estimated fair values of
the assets are land Rp.90 million,
  building Rp.70 million and equipment
1.   The H&W Co. acquired a new industrial Rp.40 million. At what amounts should
washing machine, the list price of which each of the three assets (land, building,
was $ 55,000. The supplier allowed a equipment) be recorded?
trade discount of $ 5,000 off the list
price. On delivery, the cost of installing a.   53,3 juta, 53,3 juta, 53,3 juta
the machine in its desired location was b.   90 juta, 70 juta, 40 juta
$1,000. what is the cost of the machine c.   72 juta, 56 juta, 32 juta  
to be capitalized?  
a.   $55,000   6.   Which    of  the  following  items  can  not  be  
b.   $50,000   capitalized    as  cost  of  equipment  (recorded  in  
c.   $56.000   the  balance  sheet  as  fixed  asset)  ?  
d.   $51.000   a.   Cost  of  preparing  the  site  for  installation  
  b.   Cost  of  training  staff  on  the  new  assets  
2.   On January 2, 2016 Brambilla & Co. c.   Cost  of  testing  weather  the  equipment    
purchased motor vehicle for $ 15,000 work  properly  
with the expected useful life of 5 years. d.   Cost  of  moving  equipment    
Depreciation has been recorded using
double declining balance. On Jan 3, 2018
7.   Mr Miller buys a car for $ 16,000. He
the motor vehicle is sold for $ 7,800. For
depreciates a car for 4 years with
the sale of the motor vehicle, Brambila &
salvage value $ 4,000. The annual
Co got :
depreciation expense, based on a
straight line basis, will be:
a.   Gain $ 1,200
a.   $4,000 per annum
b.   Loss $ 1,200
b.   $3,000 per annum
c.   Gain $ 2,400
c.   $2,000 per annum
d.   Loss $ 2,400
d.   $1,500 per annum
 
 
3.   An enterprise sells on 1 January 2018 a 8.   Charging  depreciation  of  fixed  Assets    to  the  
van which it bought on 1 January 2015
Profit  &  Loss  Statement    is  an  attempt  to:  
for $ 30,000, and has been depreciating
a.   Spread  the  cost  of  the  assets  over  their  
the van each year at 25% per annum on
a straight line basis. It trades this van in estimated  useful  life  
for a new van costing € 35,000 and pays b.   Reduce  profits  and  dividends  
the supplier $ 29,000 cash. c.   Comply  with  the  prudence  concept  
What is the gain or loss on the disposal d.   Ensure  that  sufficient  funds  are  available  
of the old van? to  replace  the  assets  
a.   $1,500  gain    
b.   $1,500  loss   9.   Which  of  the  following      is  true  ?  
c.   $4,000  loss   a.   The  term  fixed  asset  can  not  be  applied  
d.   $4,000  loss   to  items  which  can  be  moved  
  b.   Fixed  assets  are  bought  with  the  
4.   Stepton  Company  paid  $  640,000  cash  for  a   intention  of  resale.  
tract  of  land  on  which  it  plans  to  erect  a  new   c.   Fixed  assets  are  normally  used  in  the  
warehouse,  and  paid  $8,000  in  regal  fees.  
business  on  a  long-­‐term  basis  
Stepton  also  agreed  to  assume  responsibility  
d.   Fixed  assets  tend  to  change  constantly  
for  $25,600  of  un  paid  taxes  on  the  property.  
in  amount  and  composition  
The  company  incurred  a  cost  for  $28,800  to  
 
remove    an  old  building  from  the  land.  The  
10.   Book  Value  of  Equipment  is:  
cost  of  the  land  would  be  recorded  at:  
a.   Cost  of  equipment  
a.   $  648,000                                  
b.   Cost  of  Equipment    minus  accumulated  
b.   $673,600  
depreciation  of  equipment  
c.   676,800  
c.   Cost  of  equipment  minus  depreciation  
d.   $702,400
expense  of  equipment  
d.   Market  value  of  Equipment