12) Bingo Corporation has acquired a property that included be th land and a building for $500,000 The corporation hired an appraiser who has determined that the market value of the land is $360,000 and that of the building is $420,000. At cost of the building? (Round any intermediate calculations to two what amount should the corporation record the decimal places, and your final answer to the nearest dollar.) A) 5320,000 B) $226,800 C) $250,000 D) 5270,000 13) Which of the following costs related to a business car would be capitalized? 13) A) the cost to change the oll B) the cost of new tires C) the cost to install an engine with higher horsepower D) the cost to replace a broken windshield 14) 6) The expected cash value of an asset at the end of its usefal life is known as B) book value A) carrying value C) residual value D) market value Conel Sales sold its old office famiture for $6,500 The original cost was $15,000, and at sale, accumalated depreciation was $14,000. What is the effect of this transaction? B) loss of $6,500 C) loss of $5,500D) gain of $6,500 A) gain of $5,500 16) Businesses record goodwill 16) A) when they enjoy an outstanding reputation and loyalty with customers B) if their market value has increased significantly in the recent years C) when they continue the business of an acquired corporation D) if they acquire another company at an amount higher than the market value of its net assets 17) Which of the following itens should be amortized? 17) A) natural resources B) patents, copyrights, trademarks O) tangible property, plant, and equipment, other than land D) goodwill 15) Pluto Corp sold goads, with a selling price of $17221, for cash. The state sales tax rate is 8%. What15) amount is credited to the Sales Revenue account? A) $1.378 B) $17.221 C) $15.843 D) 518,599 19) Which of the following accounts is credited by the seller when tax is collected on retail sales? 19) A) Accounts Payable C) Payroll Tax B) Unearned Revenue D) Sales Tax Payable 0) Uneaned revense, for services to be performed in six months, appears on the balance sheet as 20) A) long-term assets C) current iabilities B) current assets D) long-term investments