I've attached some problems to this question, if someone could answer them for me, i'm looking through my book as well but seeing the actual work will be helpful to study for my test. Thank you!

Chapter Nine 5 Problems Problem #1 15 Points ( 1 each a, 3 each for b and c) Fluffer Company incurred the following costs. 1. Sales tax on factory machinery purchased, $7,000. 2. Painting of and lettering on truck immediately upon purchase, $800. 3. Installation and testing of factory machinery, $2,500. 4. Real estate broker's commission on land purchased $4,500. 5. Insurance premium paid for first year's insurance on new truck $930. 6. Cost of landscaping on property purchased, $9,200. 7. Cost of paving parking lot for new building, $18,700. 8. Cost of clearing, draining, and filling land, $14,400. 9. Architect's fees on self-constructed building, $11,000. Instructions: a) Indicate to which account Trudy would debit each of the costs. Account to be Debited 1 machinery 2 Truck/equipment 3 Machinery 4 Land 5 Prepaid insurance acct 6 Land improvements account 7 Land improvements account 8 Land account 9 Building b) Explain why item 1 is not debited to an expense account. The sales tax on the machinery purchased is also a part of the machinery cost. When the sales tax is recovered from the buyer then the sale will be complete as the price of the machine with the tax is recovered. c) Explain why items 7 and 8 are debited to different accounts. The cost of paving for parking for the building is a capital expense and the cost of clearing and filling the land is to make the land ready to be used. Copyright 2013 John Wiley & Sons, Inc. (For Instructor Use Only) Kimmel, Financial Accounting, 7e, Challenge Exercises Page 9-1 Problem #2 15 Points (3 each) Getz Company purchased a new machine on September 1, 2014, at a cost of $120,000.The company estimated that the machine will have a salvage value of $12,000. The machine is expected to be used for 10,000 working hours during its 5year life. Instructions: Compute the depreciation expense under the following methods for the year indicated. (a) Straight-line for 2014, 2015, and 2016. (b) Units-of-activity for 2014, assuming machine usage was 700 hours. (c) Declining-balance using double the straight-line rate for 2014, 2015, and 2016. (d) Assume the straight-line method is used. What amount of gain or loss would Getz recognize if they sell the asset for $45,000 on 1/1/14? (e) Assume the double-declining balance method is used. What amount of gain or loss would Getz recognize if they sell the asset for $45,000 on 1/1/14? Copyright 2013 John Wiley & Sons, Inc. (For Instructor Use Only) Kimmel, Financial Accounting, 7e, Challenge Exercises Page 9-2 Problem #3 10 Points (3 for a; 4 for b; 3 for c) Paul McCartney, the new controller of Blackbird Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2014. His findings are as follows. Type of Date Accumulated Useful life (yrs.) Salvage Value Asset Acquired Cost Depr. 1/1/14 Old Proposed Old Proposed Building 1/1/08 $1,200,000 $171,000 40 50 $60,000 $105,000 Warehouse 1/1/09 150,000 28,500 25 20 7,000 13,500 All assets are depreciated by the straight-line method. Blackbird Company uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Paul's proposed changes. Instructions: (a) Compute the revised annual depreciation on each asset in 2014. (Show computations.) (b) Prepare the entry (or entries) to record depreciation on the building in 2014. (c) Show how the building is reported in the 12/31/1 balance sheet. Copyright 2013 John Wiley & Sons, Inc. (For Instructor Use Only) Kimmel, Financial Accounting, 7e, Challenge Exercises Page 9-3 Problem #4 10 Points (3 for a; 4 for b; 3 for c) The following are selected 2014 transactions of Pagnucci Corporation. Jan. 1 Purchased a small company and recorded goodwill of $200,000. Its useful life is indefinite. April 1 Purchased for $120,000 a patent with an estimated useful life of 5 years and a legal life of 20 years. Instructions: a) Prepare necessary adjusting entries at December 31 to record amortization required by the events above. b) Indicate how the intangible assets will appear on Pagnucci's 12/31/11 balance sheet. c) Stefan Franco, an intern at Pagnucii Company feels the company can solve its cash shortage by selling some of the goodwill it reports on its balance sheet. Evaluate Stefan's plan. Copyright 2013 John Wiley & Sons, Inc. (For Instructor Use Only) Kimmel, Financial Accounting, 7e, Challenge Exercises Page 9-4 Problem #5 10 Points (3 for a; 3 for b; 4 for c) During 2014 Aslan Corporation reported sales revenue of $5,000,000, sales returns of $200,000 and net income of $1,600,000. Aslan's capital structure at the beginning and end of the year was: 1/1/14 12/31/14 Liabilities $1,500,000 $1,650,000 Stockholders' equity 2,350,000 2,500,000 Instructions: a) Calculate the asset turnover ratio. b) Calculate return on assets. c) Explain what each ratio should tell you about the company. Copyright 2013 John Wiley & Sons, Inc. (For Instructor Use Only) Kimmel, Financial Accounting, 7e, Challenge Exercises Page 9-5