Intermediate Accounting Chapter 10 Exercise and Brief Exercises

4471 Words Apr 8th, 2011 18 Pages
CHAPTER 10
SOLUTIONS TO BRIEF EXERCISES

BRIEF EXERCISE 10-1

$27,000 + $1,400 + $10,200 = $38,600

BRIEF EXERCISE 10-2

|Expenditures | | | | |
| | | | |Capitalization Period | |Weighted-Average Accumulated Expenditures |
|Date | |Amount | | | | |
|3/1 | |$1,800,000 | |10/12 | |$1,500,000 |
|6/1
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| | | | | |$315,000 |

BRIEF EXERCISE 10-7

|Land (2,000 X $40) |80,000 | |
| Common Stock (2,000 X $10) | |20,000 |
| Paid-in Capital in Excess of Par | |60,000 |
| | | |

BRIEF EXERCISE 10-8

|Computer |3,300 | |
|Accumulated Depreciation |18,000 | |
| Truck | |20,000 |
| Cash | |500 |
| Gain on Disposal of Truck