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1) Grasshopper Room Company acquired land and buildings for $1,500,000. The land is appraised at $475,000 and the buildings are appraised at $775,000. The debit to the Buildings account will be: A. $930,000 B. $775,000 C. $570,000 D. $1,025,000 2) Blockware Corporation has selected to use the revaluation model for its assets. Recently it had its building appraised. The appraiser placed a $5.0 M value on the building. Back in 2012 this building was purchased for $4.0M. This increases in value over cost requires a: A.Dr. to accumulated depreciation B.Dr. to revaluation surplus C.Cr. to revaluation surplus D.Cr. to the building account 3)Big Rock Times Corporation (BRT) acquired equipment on January 1, 2014, for $300,000. The equipment had an estimated useful life of 10 years and an estimated salvage value of $25,000. On January 1, 2017, BRT Corporation revised the total useful life of the equipment to 6 years and the estimated salvage value to be $10,000. Compute the book value of the equipment as of December 31, 2017, if BRT Corporation uses straightminusline depreciation. A.$148,333 B.$151,667 C.$190,000 D.$155,000 4)A loss is recorded on the sale of property, plant, and equipment when: A. the asset's book value is greater than the amount of cash received from the sale B. the asset is sold for a price greater than the asset's book value C. a loss on the sale of property, plant, and equipment is not allowed according to GAAP D. the asset's book value is less than the balance in Accumulated Depreciation

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