Which of the following items are plant assets? (Check all that apply.) BlackTom题目解析单项选择题

A

Land held for expansion

B

Building used for operations

C

Equipment with a useful life of less than one accounting period.

D

Equipment used in operations

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Which of the following is an example of a fixed asset?

Question1(i) The company made a net loss of $100,000 for the period ended 30 June 2024. The company sold a building for $100,000 cash and made a loss on sale of $5,000. The company also bought a new building during the period. Depreciation expense for buildings for the period was $50,000. Balances of asset and liability accounts are listed below: [table] | 30 June 2024 | 30 June 2023 | $ | $ Cash | 55,000 | 25,000 Accounts Receivable | 30,000 | 60,000 Inventories | 23,000 | 50,000 Prepaid Insurance | 12,000 | 5,000 Buildings | 200,000 | 300,000 Accumulated depreciation (buildings) | (130,000) | (150,000) Accounts Payable | 60,000 | 70,000 Interest Payable | 55,000 | 10,000 Short term loan | 12,000 | 50,000 [/table] What is the value of the new building purchased during the financial period ended 30 June 2024? (1 mark) $75,000 $150,000 $100,000 $50,000 $95,000 ResetMaximum marks: 1 Flag question undefined

Question1(e) The company made a net loss of $100,000 for the period ended 30 June 2024. The company sold a building for $100,000 cash and made a loss on sale of $5,000. The company also bought a new building during the period. Depreciation expense for buildings for the period was $50,000. Balances of asset and liability accounts are listed below: [table] | 30 June 2024 | 30 June 2023 | $ | $ Cash | 55,000 | 25,000 Accounts Receivable | 30,000 | 60,000 Inventories | 23,000 | 50,000 Prepaid Insurance | 12,000 | 5,000 Buildings | 200,000 | 300,000 Accumulated depreciation (buildings) | (130,000) | (150,000) Accounts Payable | 60,000 | 70,000 Interest Payable | 55,000 | 10,000 Short term loan | 12,000 | 50,000 [/table] What is the value of the new building purchased during the financial period ended 30 June 2024? (1 mark) $75,000 $50,000 $100,000 $95,000 $150,000 ResetMaximum marks: 1 Flag question undefined

Using the NE Company Balance Sheet, what is the Capital Assets entry for Land?

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