Mcgraw hill connect chapter 10 help

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 A – ordinary maintenance and repairs, B – asset improvements, or      C – extraordinary 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 independent assumptions. 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: