Mcgraw hill connect chapter 10 help

McGraw Hill Connect, Chapter 10 Accounting assignment includes:


CHAPTER 10 HOMEWORK and CHAPTER 10 QUIZ completed online through McGraw Hill Connect site with my credentials DUE NO LATER THAN Sunday, 04-28-2013




Upload DOCUMENTS of Chapter 10 TEST submitted to me through homework market DUE NO LATER THAN Sunday 04-28-2013 —- SEE BELOW:


PROBLEM #1 – 4 points


Classify each of the following as A – ordinary maintenance and repairs, B – asset improvements, or      C – extraordinary repairs.


1.    Resurfacing a pool in an apartment building.                      ___________________


2.    Installing a new air conditioner in an old building.                         ___________________


3.    Exterior and interior painting.                                                  ___________________


4.    Fixing damage due to a car accident.                                    ___________________


PROBLEM #2 – 14 points

Equipment acquired at a cost of $126,000 and has a book value of $42,000.  Journalize the disposal of equipment under the following independent assumptions. Identify each assumption by letter.



The equipment had no market value and was discarded.


The equipment is sold for $53,000.


The equipment is sold for $27,000.


The equipment is traded-in for a similar asset.  The list price of the new equipment is $63,000. The exchange has no commercial substance.









































































































PROBLEM #3 – 22 points

An asset was purchased January 1, 20XX and the fiscal year ends December 31st. Calculate depreciation expense, accumulated depreciation, and net book value under the straight-line and the double declining balance methods. Round your answers to the nearest whole dollar.


Asset Cost = $200,000                  Salvage Value = $25,000              Estimated Life = 8 Years


Straight-line method:



Depreciation Expense


Accumulated Depreciation


Net Book Value

































































Double Declining Balance method:



Depreciation Expense


Accumulated Depreciation


Net Book Value

































































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