1/ On March 31, 2018, M. Belotti purchased the right to remove gravel from an old rock quarry. The gravel is to be sold as roadbed for highway construction. The cost of the quarry rights was $323,700, with estimated salable rock of 39,000 tons. During 2018, Belotti loaded and sold 5,300 tons of rock and estimated that 33,700 tons remained at December 31, 2018. At January 1, 2019, Belotti estimated that 10,600 tons still remained. During 2019, Belotti loaded and sold 15,900 tons. Belotti uses the units-of-production method.

Belotti would record depletion in 2018 of: (Do not round depletion rate per ton)

Multiple Choice

• $50,908.

• $43,990.

• $45,470.

• $32,993.

2/ Murgatroyd Co. purchased equipment on January 1, 2016, for $440,000, estimating a four-year useful life and no residual value. In 2016 and 2017, Murgatroyd depreciated the asset using the sum-of-years'-digits method. In 2018, Murgatroyd changed to straight-line depreciation for this equipment. What depreciation would Murgatroyd record for the year 2018 on this equipment? (Do not round your depreciation rate.)

Multiple Choice

• $ 66,000.

• $110,000.

• $132,000.

• None of these answer choices are correct.

3/ Granite Enterprises acquired a patent from Southern Research Corporation on January 1, 2018, for $3.3 million. The patent will be used for 5 years, even though its legal life is 20 years. Rocky Corporation has made a commitment to purchase the patent from Granite for $140,000 at the end of five years. Compute Granite's patent amortization for 2018, assuming the straight-line method is used.

Multiple Choice

• $632,000.

• $330,000.

• $316,000.

• $660,000.

4/ Cutter Enterprises purchased equipment for $51,000 on January 1, 2018. The equipment is expected to have a five-year life and a residual value of $8,100.

Using the straight-line method, depreciation for 2019 and the equipment's book value at December 31, 2019, would be:

Multiple Choice

• $8,580 and $25,740 respectively.

• $10,200 and $40,800 respectively.

• $20,400 and $30,600 respectively.

• $8,580 and $33,840 respectively.

Pleaaaaase answer all questions thank you :-)