mcgraw hill connect chapter 10 help 498917

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

AS WELL AS:

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 Aordinary maintenance and repairs, B asset improvements, or Cextraordinary 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 independentassumptions. Identify each assumption by letter.

Journal

PROBLEM #3 22 points

An asset was purchased January 1, 20XX and the fiscal year ends December 31^st. 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:

Double Declining Balance method: