Chapter 9 - end of lesson check in

I can determine an asset’s (PPE) value in a variety of situations and prepare the necessary journal entries

• Strongly disagree

• Disagree

• Agree

• Strongly agree

I can calculate the value for each asset purchased when a business or individual buys more than one asset at a time. lump sum or basket purchase**

• Strongly disagree

• Disagree

• Agree

• Strongly agree

I can recognize whether a purchase related to an asset is a revenue or capital expenditure and properly record the purchase using the correct journal entry.

• Strongly disagree

• Disagree

• Agree

• Strongly agree

I can calculate depreciation expenses for a business using either straight-line, double declining balance, or units of production.

• Strongly disagree

• Disagree

• Agree

• Strongly agree

I can adjust depreciation amounts if an asset was purchased part way through a year, an asset has been enhanced, or a change has been made to the initial depreciation estimates

• Strongly disagree

• Disagree

• Agree

• Strongly agree

I can calculate an impairment loss and prepare the necessary journal entries to record the impairment.

• Strongly disagree

• Disagree

• Agree

• Strongly agree

I can prepare the necessary journal entries to record the disposition (sale or disposal) of an asset.

• Strongly disagree

• Disagree

• Agree

• Strongly agree

I understand what an intangible asset is and know how to calculate its depreciation expense.

• Strongly disagree

• Disagree

• Agree

• Strongly agree