XYZ Company buys a building on April 1, 2008 for $100,000. The building has a physical life of 50 years, but XYZ Company anticipates using the building for 50 years. At the end of 50 years, the building will have no disposal value, but at the end of 30 years it will have a disposal value of $5,000. If the company uses the straight line method, how much depreciation would be recorded on December 31, 2008?

When all else is equal, analysts ____________________.

Which of the following costs would NOT be included in the cost of machinery?

The proceeds gained upon disposition of an asset at the end of its useful life are referred to as the asset's _______________.

Late in Year 1, XYZ Company signs a contract to construct a bridge for the Florida Dept. of Transportation. The contract price is $42,000,000. The costs during the 3-year construction period are as follows: Year 2: $10,000,000 Year 3: $15,000,000 Year 4: $5,000,000 If XYZ Company recognizes income under the percentage-of-completion method, how much income would they recognize on the bridge contract in Year 2?

When managers choose estimates that lead to higher current income, analysts refer to those earnings as ________________.

Which of the following events reduces total assets?

The legal right to future benefits of an invention is referred to as a/an _______________.

In which of the following depreciation methods is the estimate of useful life NOT required?

In financial statements, what is the proper handling of the Allowance for Uncollectible Accounts?

Small adjustments to and replacement of plant assets that have little or no effect on useful life are called _______________.