ACC 304 All Assignments ACC 304 All Assignments | Page 140

28. The debit for a sales tax properly levied and paid on the
purchase of machinery preferably would be a charge to
a. the machinery account.
b. a separate deferred charge account.
c. miscellaneous tax expense (which includes all taxes other than
those on income).
d. accumulated depreciation--machinery.
29.
Fences and parking lots are reported on the balance sheet as
a. current assets.
b. land improvements.
c. land.