1-On March 1, 2022,Pharoah Companyacquired real estate, on which it planned to construct a small office building, by paying $77,500in cash. An old warehouse on the property was demolished at a cost of $7,700; the salvaged materials were sold for $1,600. Additional expenditures before construction began included $1,100attorney's fee for work concerning the land purchase, $4,250real estate broker's fee, $8,600architect's fee, and $13,500to put in driveways and a parking lot.

Determine the amount to be reported as the cost of the land.

Cost of land = ???

2-WindsorChemicals Company acquires a delivery truck at a cost of $35,600on January 1, 2022. The truck is expected to have a salvage value of $2,900at the end of its5-year useful life.

Compute annual depreciation for the first and second years using the straight-line method.

what is the Annual depreciation under the straight-line method for the First year & the second year?

3- Sunland Companypurchased a new machine on October 1, 2022, at a cost of $80,360. The company estimated that the machine has a salvage value of $7,980. The machine is expected to be used for70,800working hours during its7-year life.

Compute the depreciation expense under the straight-line method for 2022 and 2023, assuming a December 31 year-end.(Round answers to 0 decimal places, e.g. 5,275.)

what is The depreciation expense under the straight-line method for 2022 & 2023?

4-These are selected 2022 transactions forSheffieldCorporation:

Jan. 1 Purchased a copyright for $106,500. The copyright has a useful life of6years and a remaining legal life of32years

Mar.1 Purchased a patent with an estimated useful life of5years and a legal life of24years for $110,400.

Sep.1 Purchased a small company and recorded goodwill of $154,250. Its useful life is indefinite.

Indicate the amount of amortization expense on December 31, 2022, forSheffieldCorporation.

Amortization expense =???

5-Suppose in its 2022 annual report thatMcDonald's Corporationreports beginning total assets of $24billion, ending total assets of $16billion, net sales of $25billion, and net income of $5billion.

(a)Compute McDonald's return on assets.(Round return on assets to 2 decimal places, e.g. 5.12%.)

McDonald's return on assets=???

(b)Compute McDonald's asset turnover.(Round asset turnover to 2 decimal places, e.g. 5.12.)

McDonald's asset turnover=??? times