19. AOL purchased Network.com for $1,200,000 cash. The fair market value of the assets purchased as determined by an appraiser was as follows. No liabilities were assumed. Equipment Land Building Franchise $400,000 100,000 400,000 20,000 The goodwill associated with this purchase is? a. $280,000 b. $300,000 c. $1,200,000 d. $920,000 e. Cannot be determined 20. Which of the following correctly sets forth the accounting terminology related to the using up of tangible assets, natural resources, and intangible assets? Tangible Asset Natural Resource Intangible Asset a. Depreciation b. Wearing out c. Depreciation d. Depreciation e. Depreciation Consumption Using up Amortization Depletion Depreciation Amortization Writing off Amortization Amortization Depreciation