5 MNO Inc. purchases land, a building, and equipment for a lump sum of $180,000. The appraised value of the land, building, and equipment is $100,000, $60,000, and $40,000, respectively. What amount should MNO record the equipment at? $36,000 $54,000 O $40,000 $100,000 QUESTION 6 Obligations not expected to be paid within the longer of one year or the company's operating cycle are reported as: O Operating cycle liabilities Current liabilities O Current assets O Long-term liabilities QUESTION 7 Contingent liabilities are recorded or disclosed in th notes unless they are: O Probable and not estimable Probable estimable Remote O Reasonably possible QUESTION 8 All of the following are employer payroll taxes except O Federal income tax equal to that withheld from employees. O State unemployment tax. O Social Security tax equal to that withheld from employees. Medicare tax equal to that withheld from employees