Can you answer
all the questions as soon as possible.. I appreciate your help a lot 17. Rocker Co. has the following information about one of its equipment on 12/3 Expected total future net cash flows: S 158,000 Cost: $ 300,000 Accumulated depreciation: $ 120,000 Fair value: $ 142,000 What amount (if any) should Rocker report as an impairment loss to its equipment? a. SO. b. $22,000 c. $38,000 d. $16,000. 18. Global Co. paid $2,850,000 to acquire Local Co. On the acquisition day, the carrying value of identifiable net assets of Local was $2.300,000 and the fair market value of identifiable net assets was $2,600,000. Which of the following should be recorded by Global when it acquired Local? a. $550,000 of goodwil. b. $300,000 of negative goodwill. d.$250,000 of goodwill c. $250,000 of gain on purchase 19. Which of the following statement is FALSE regarding limited-life intangibles? a. Patents and copyrights are two common examples. b. Impairment test is a one-step fair value test c. The most common amortization method is straight-line method. d. When amortize, we credit the intangible asset account directly Dolan Corporation adopted the dollar-value LIFO method of inventory valuation to compute its ending inventory, Information regarding inventory for subsequent years is as follows: December 31, 2014 December 31, 2015 December 31, 2016 Inventory at Current Prices S 220,000 256,800 290,000 Current Price Index 100 107 125 20. What is the cost of the ending inventory at December 31, 2015 under dollar-value LIFO? a. $ 240,000 b. $ 256,800 c. $ 241,400 d. $ 235,400 21. What is the cost of the ending inventory at December 31, 2016 under dollar-value LIFO? a. $ 232,840 b. S 231,400 c. $ 232,000 d. s 240,000 22. A company provides benefits of paid vacation every year. In 2015, a total of 10 weeks of vacations have been earned by its employees. The average weekly salary was $760 in 2015. In 2016, all the vacation benefits earned in 2015 were used up. The average weekly salary was $810 in 2016. In a journal entry to record the payment of vacation benefits in 2016, the account "Salaries and Wages Payable" should be a credited by $8, 100. b. debited by $8, 100 c. credited by $7,600. d. debited by $7,600. estimated to have value of $40,000 without the timber. The appraiser estimated that the tract contained 1,000,000 board feet of timber. During 2016, 180,000 board feet of timber were logged 23. Bolton Co. acquired a tract of timber for $400,000. At the time of purchase, the land was and sold. The amount of depletion expense of timber for 2016 under the units-of-production is: a. $40,000 d. $64,800 c. $72,000 b. $36,000
