1. Oriole Company purchases a new delivery truck for $49,000. The sales taxes are $3,000. The logo of the company is painted on the side of the truck for $1,800. The truck's annual license is $140. The truck undergoes a one-time safety testing before use for $270. What does Oriole record as the cost of the new truck? 2. The following equipment was purchased July 1, 2016. Initial Cost Expected Useful Life Expected Salvage Value $595,000 5 years $70,000 a. Record depreciation expense for 2016 using the straight-line method, Assets Liabilities Stockholders' Equity b. What is the book value of the equipment at December 31, 2016 after depreciation has been recorded? C. Record depreciation expense for 2017 using the straight-line method. Assets Liabilities Stockholders' Equity d. The equipment sold for $219,500 on July 1, 2020. The Accumulated Depreciation account had a balance of $367,500 on December 31, 2019. What is the book value of the equipment on the date of sale? (Hint: need to record depreciation expense from last adjustment to the date of sale "catch-up entry) e. What is the gain or loss on sale? f. What is the transaction to record the sale? Assets Liabilities Stockholders' Equity 3. Identify which financial statement you would find the following accounts: Land Copyright Gain on Disposal Loss on Disposal Depreciation Expense Accumulated Depreciation 4. On May 1, 2019, Jefferson, Inc, purchased a copyright for $135,600. If the copyright has a useful life of 4 years, what is the amount of amortization expense Jefferson will record for the copyright as of December 31, 2019