Sarong #2 38 points 17 extraordinary reparations A Register only if you can be quantified in a transaction Extraordinary

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Sarong 2 38 Points 17 Extraordinary Reparations A Register Only If You Can Be Quantified In A Transaction Extraordinary 1 (50.54 KiB) Viewed 22 times

Sarong #2 38 points 17 extraordinary reparations A Register only if you can be quantified in a transaction Extraordinary repairs) 18 Depletion B Depreciation expense decreases Express progressively from period to period 19 Straight line Cit is recorded if the sale price is greater depreciation than the book value of the fixed asset sold 20 Double dedinina deprec-D it is recorded if the sale orice is tion (double math twice less than the book value of the fixed asset depreciation) sold out 21 Units of E Expenses incurred in relation to output depreciation foxed assets and that are necessary for their maintenance and normal operation 22 Goodwill F Faced asset Oost- Accumulated depreciation 23 Amortization G The periodic transfer of the cost of a fixed Expense asset to an expense account H They 24 Book value the value of the fixed asset but do not mondes 25 Asset Improvement life! The periodic transfer of the Improvements to fred cost of an intangible asset to a 26 Gain on Sale of Fixed Depreciation expense remains Asset (in on the sale of fixed 27 Depreciation K The same amount of depreciation expense is allocated throughout the useful of food 28 Revenue Expenditures The periodic transfer of the cost of a Not capitalable dissement) natural resources an expense account 29 Loss On Sale of M Most commonly used by business Fixed Asset (loss on the sale of a small with a reduced amount of feeds accounts receivable 30 Advantage of factoring N Retots because more uncollectible counts receivable accounts were eliminated than were thay hind estimated 31 Disadvantage of factorinç O Most commonly used by account: Povable companies large with a considerable amount account 32 Debit balance of the P The purchasing company assumes the risk Allowance account prior to of the potential uncollectibility of the the adjusting entry 33 Balance in credit of the The company receives cash immediately Allowance account prior to na rosult of the transaction Adjusting entry 34 The end Direct method the useful le of the fixed as uncollectible accounts 35 Reservation Method OS Results because loss allowance was written off for uncollectible accounts than had boddol been estimated