Question: hello i need help with these accounting problems i will attach them. please get done as fast as possible will give a 10$ tip if

 hello i need help with these accounting problems i will attachthem. please get done as fast as possible will give a 10$tip if done within the hour Match each of the following accountswith the most appropriate description of the method used to allocate thebalance in the account to expense. Land 1) Depreciation 2) Amortization 3)None of the above Research & Development Truck (purchased for use inthe business) Truck (held for resale) Goodwill Copyright Furniture (purchased for usein the accounting ofce) Patent On January 25 of the current year,

hello i need help with these accounting problems i will attach them. please get done as fast as possible will give a 10$ tip if done within the hour

Tama,lnc. purchased a piece of equipment with an invoice price of $30,000.The following costs were also related to the purchase. Which of thefollowing costs should be capitalized as part of the cost of theequipment? (You may choose more than one answer.) Q Tama purchased amaintenance agreement for the equipment. The agreement covers one year for $3,000.O Tama paid $1,000 for shipping on the equipment. O A specialdevice that reduces fumes had to be installed on the equipment ata cost of $2,500 before the machine could be used indoors. (jTama borrowed the money for the equipment and will pay $6,000 of

Match each of the following accounts with the most appropriate description of the method used to allocate the balance in the account to expense. Land 1) Depreciation 2) Amortization 3) None of the above Research & Development Truck (purchased for use in the business) Truck (held for resale) Goodwill Copyright Furniture (purchased for use in the accounting ofce) Patent On January 25 of the current year, Tama,lnc. purchased a piece of equipment with an invoice price of $30,000. The following costs were also related to the purchase. Which of the following costs should be capitalized as part of the cost of the equipment? (You may choose more than one answer.) Q Tama purchased a maintenance agreement for the equipment. The agreement covers one year for $3,000. O Tama paid $1,000 for shipping on the equipment. O A special device that reduces fumes had to be installed on the equipment at a cost of $2,500 before the machine could be used indoors. (j Tama borrowed the money for the equipment and will pay $6,000 of interest on the loan. O Movers fees of $2,000 were paid to move old equipment into new areas to make room for the new equipment. O Sales tax on the equipment purchase amounted to $1,500. On the rst day of the current year, Parasosa Company purchased a motel for $90,000 and a van for $35,000. The following expenditures have been incurred during the year related to the building and the van: Installed a new air-conditioning system for $40,000. 1) Capitalize The van's engine was replaced at a cost of $4,000. 2) Expense 35 repair The van had a tune-up and a brake job for $500. An automated wheel chair ramp was installed on the van for $3,500. Painted the fence around the motel for $1,000. Painted the reception area as part of a remodeling job for $2,500. Ann purchased a new piece of farm equipment on 4/1/ Year1 for $110000. The machine has an expected useful life of 10 years and a $20000 residual value. Assume the rm uses the straight-line method for computing depreciation expense, and prepares annual nancial statements at December 31. How much depreciation expense should be recorded in the adjusting entry on December 31, Year1? How much depreciation expense should be recorded in the adjusting entry on December 31, Year2? What is the net book value of the machine at December 31 , Year1? What is the net book value of the machine at December 31, Year2? For this question, do not round your depreciation rate. However, when necessary, round the depreciation expense to the nearest dollar. Enter all numbers as positive amounts. Arm purchased a new cutting machine at the beginning of Year1 for $120000. The machine has an expected useful life of 8 years and a $5000 residual value. The rm uses the double-declining balance to calculate depreciation. How much depreciation expense should the rm record for the second year ended 12/31Year2? What will be the net book value of the equipment after 8 years of depreciation have been recorded? For this question, do not round your depreciation rate. However, when necessary. round the depreciation expense to the nearest dollar. Enter all numbers as positive amounts. Ann purchased a boat at the beginning of Year1 for $450000. The boat has an expected useful life of 30 years and a $30000 residual value. The rm uses the straight-line to calculate depreciation. During Year6, the rm revises the residual value of the boat to be $60000. What will be the balance in the accumulated depreciation account at the end of ve years? How much depreciation expense should the rm record for the sixth year (the rst adjusting entry since the change in estimate)? Hampton purchased a machine two years ago for $4240, Over the last two years, Hampton has taken a total of $1900 of depreciation on the machine. Now, Hampton sells the machine for $1740. What is Hampton's gain or loss on this sale? (Input a gain as a positive number and a loss as a negative number)? A rm acquired a $275000 machine that has a 10 year-life and a residual value of $21800. Depreciation is calculated using the straight-line method. The machine is sold at the end of the 11th year for $51300. What is the gain or loss on the sale of this asset? (Input a gain as a positive and a loss as a negative) A. Miguel Corp. purchased equipment with an invoice cost of 5468000. They paid 523400 in sales tax and 510000 to a specialist who installed and tested the machine. What will Miguel record as the acquisition cost ofthe machine? B. Four years later, after recoding depreciation for the year, the net book value of the machine was 5303930. The machine was nearing obsolesence due to recent technology breakthroughs. Miguel estimated the future cash ows from the machine to be 5149760. A local dealer offered to buy the machine for 5140400. What amount should Miguel record as an impairment loss

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