Apollo Company's 12/31/21 statement of financial position reports assets of P6,000,000 and liabilities of P2,500,000. All of Apollo's assets' book values approximate their fair value, except for land, which has a fair value that is P400,000 greater than its book value. On 12/31/21, Twin Corporation paid P6,500,000 to acquire Apollo. What amount of goodwill should Twin record as a result of this purchase? OP2,600,000 P500,000 OP3,000,000 Luna Co. purchased machinery that was installed and ready for use on January 3, 2020, at a tota cost of P69,000. Residual value was estimated at P9,000. The machinery will be depreciated ove five years using the double-declining balance method. For the year 2021, Luna should record depreciation expense on this machinery of O P27,600 O P16,560 O P18,000 O P14,400 FHV Corporation purchased a patent for P540,000 on September 1, 2019. It had a useful life of 10 years. On January 1, 2021, FHV spent P132,000 to successfully defend the patent in a lawsuit. FHV feels that as of that date, the remaining useful life is 5 years. What amount should be reported for patent amortization expense for 2021? OP93,600 O P134,400 O P123,600 P120,000 Twin Company acquires land for P56,000 cash. Additional costs are as follows: Removal of shed P 300 Filling and grading 1,500 Salvage value of lumber of shed 120 Broker commission 1,130 Paving of parking lot 10,000 Closing costs 560 Twin will record the acquisition cost of the land as OP59,370. OP56,000 P57,690. O P59.610