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You are watching: The cost of repairing damage to a machine during installation is debited to a fixed asset account.

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Transcribed image text: The cost of repairing damage to a machinre throughout installations is debited to a fixed asset acc ount. 31. Resources expenditures are prices of obtaining constructing, including or instead of property, plant and also equipment. 32. One intangible heritage is one that has actually a physics existence. 33. A capitalized asset will appear on the balance sheet together a lengthy termm asset. 34. Lengthy lived assets hosted for sale space classified as solved assets. 35. Together a firm records depreciation price for a peroid the time a matching cash inflow from investing tasks is report on the statement of cash flosw. 36. The double-declining-balance an approach is an accelerated depreciation method. 37. Funding expenditures are prices that are charged come Stockholders' same accounts. 38. Though a item of equipment is still gift used, the devices should be removed from the accounts if it has actually been fully depreciated. 39. A get can it is in realized once a fixed asset is discarded. 40. If a fixed asset v a book value the $10,000 is traded because that a comparable fixed asser, and also a trade-in pin money of $15,000 is granted through the seller, if the transaction is considered to have commercial problem the buyer would report a obtain on handle of solved assets the $5,000. 41. Both the initial expense of the asset and the collected depreciation will be taken off the publications with the handle of the asset. 42. The difference between the balance in a resolved asset account and its related accumulated depreciation account is the asset's book value. 43. The procceds of a discounted note are equal to the confront value the the note. 44. Payroll taxes are based upon the employee's network pay. 45. Mot employers are compelled to withhold federal joblessness taxes native employee earnings. 46. FICA tax becomes a liability to the federal government at the moment an employee's payroll is prepared. 47. Payroll taxes levied against employers become an employer liability at the moment the employee wages room incurred.

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48. For suitable mathcing that revenues and also expenses, the estimated price of fringe benefits must be well-known as an price of the duration during i m sorry the employee earns the benefits.