a tracs.trstate.edu An update has and is ready to Mark for Review What\'s This?
ID: 2391755 • Letter: A
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a tracs.trstate.edu An update has and is ready to Mark for Review What's This? Outlook An update has b and is ready to i Question 24 of 30 2.0 Points On anuary 1, 2017,2sin Company spent $3,000 powertul motor was installed as wel equipment had O A Equipment account will Iincrease on equipment it already owned to improve its quality and increase its productive life (e.g. a more s more advanced control devices). The equipment had been purchased on January 1,2012 for $14,000. The a $2000 salvage value and a 6-year life. Ziskin uses straight-line depreciation. What is the accounting implication of spending $3,000 &. Net income will Increase C. Net income will decrease D.Retained earnings will increase Mark for Review What's This? Question 25 of 30 2.0 Points Which of the following terms is used to describe expense recognition for intangible assets? A amortization B. depletion C.Explanation / Answer
Q24.
Answer is A. Equipment will increasse by $3000.
Explanation:
The expenditure has increased the productive life of the assets, therefore, categorized as capital expenditure. Hence, added in the cost of equipment and depreciation will be made on the revised book value of assets.
Q25.
Answer is A. Amortization.
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