please answer these 7 multiple choice questions!!!

Question 16 On October 1, 2020, Moray Ltd. purchased 500 of the $1,000 face value, 8% bonds of Eel Ltd. for $585,000, including accrued interest of $10,000. The bonds, which mature on January 1, 2027, pay interest semi-annually on January 1 and July 1. Moray used the straight-line method of amortization and appropriately recorded the bonds as long-term. On Moray's December 31, 2021 balance sheet, the carrying value of the bonds would be O $570,000. $575,000. $568,000. $560,000. Question 17 George Inc. owns bonds that are accounted for under the fair value through net income model. On December 31, value of $124,365. The fair value at that date is $123,000. The entry to record the year-end adjustment is: 1,365 Investment Income or Loss FV-NI Investments 1,365 1,365 Unrealized Gain or Loss - OCI FV-NI Investments 1,365 1,365 FV-NI Investments Investment Income or Loss 1,365 O No adjustment is required. Question 19 Round Up Corporation uses the cost model to account for its property, plant, and equipment, which were acquired on January 1, 2020, for $200,000. Round Up uses straight-line depreciation and estimates the assets will have an eight-year life with no residual value. Assuming Round Up did not experience any impairment losses, the December 31, 2021, net book value of the assets is O $150,000. $200,000 O $125,000. $175,000. Question 22 For 2020, Walrus Company reported net revenues, average total assets, and net income of $180,000, $24,000, and $100,000 respectively. Walrus Company's asset turnover ratio for 2020 was Question 23 On July 1, 2019, Boots Corporation purchased factory equipment for $200,000. Residual value was estimated to be $5,000. The equipment will be depreciated over ten years using the double-declining-balance method. Counting the year of acquisition as one-half year, Boots should record depreciation expense on this equipment for the calendar year 2020 of O $36,100. $36,000 $180,000. $ 16,000. Question 24 Icicle Corp.'s average annual net income is $50,000 above the average for Icicle's industry. Snowy is interested in purchasing Icicle. Assuming Snowy estimates goodwill by capitalizing excess earnings at 13%, the estimated goodwill to the nearest dollar) is O $753,846. $685,162. $384,615. O $ 0. Question 25 Jeremiah Inc. is being targeted for acquisition by Argo Corporation. As an analyst for Argo, you are asked to determine the goodwill that, pending various assumptions, may be inherent in this potential transaction. The available information relating to Jeremiah includes the following: Current net assets: $5.1 million Expected return on net assets for industry: 10% Reported net income for the previous six consecutive years: Year 2015 2016 2017 Amount $710,000 $680,000 $980,000 Year 2018 2019 2020 Amount $745,000 $815,000 $835,000 Net income for 2020 included a $200,000 gain from the sale of a discontinued operation. Estimated goodwill by capitalizing average excess earnings at 14% is O $2,029,762. $1,791,667. O $1,654,331. $ 760,833