1) On September 30,2024 , Bricker Enterprises purchased a machine for $200,000. The estimated service life is 10 years with a $20,000 residual value. The company records partialyear depreciation based on the number of months in service. Depreciation for 2024 using the straight-line method is: A) $15,000. B) $13,500. C) $5,000. D) $4,500. 2) Which of the following typically refers to the process of allocating the cost of long-term intangible assets used in the business over future periods? A) Impairment B) Depreciation C) Amortization D) Depletion 3) Cutter Enterprises purchased equipment for $72,000 on January 1, 2024. The equipment is expected to have a five-year life and a residual value of $3,300. Using the double-declining-balance method, depreciation for 2024 and the book value on December 31,2024 , would be: A) $28,800 and $39,900, respectively. B) $28,800 and $43,200, respectively. C) $27,480 and $44,220, respectively. D) $27,480 and $44,520, respectively. 4) A company purchased land, a building, and equipment for one price of $1,050,000. The estimated fair values of the land, building, and equipment are $131,250,$918,750, and $262,500, respectively. At what amount would the company record the land? A) 5131,250 B) $1,050,000 C) $105,000 D) $115,000 5) A bond is issued with a face amount of $500,000 and a stated interest rate of 10%. The current market rate of interest is 8%. These bonds will sell at a price that is: A) Equal to $500,000. 8) The answer cannot be determined from the information provided. D) Mose than $500,000. D) More than $500,000. 6) A consweny purchased land for $93,000 cash. Commissions of $13,500, property taxes of $14,000, and Mre iaverece of $4,400 were also incurred. The $14,000 in property taxes includes $7,600 in back taxes A)sili,ion the company record the land? C) sin400 D) Si1 11/50