115.What items are included in the cost of a newly purchased building? 116.What is meant by a "basket purchase," and what method is normally used to determine the cost of individual assets? ...

115.What items are included in the cost of a newly purchased building?

116.What is meant by a "basket purchase," and what method is normally used to determine the cost of individual assets?

117.Which method of depreciation generally allocates the largest amount of depreciation to the first year of the asset's life?

118.What type of account is Accumulated Depreciation?

119.Explain how the gain or loss is computed on the sale of a piece of equipment.