complete the attached showing the work using an Excel spreadsheet

Page 1 False rldbqn=1 139638295 78886399 1 MultipleSections NavigateFreely False MultipleChoice 8 False /main/ CourseMod 0 1388776320 Question 4. 4. (TCO C) Danks Corporation purchased a patent for $450,000 on September 1, 2008. It had a useful life of 10 years. On January 1, 2010, Danks spent $110,000 to successfully defend the patent in a lawsuit. Danks feels that as of that date, the remaining useful life is 5 years. What amount should be reported for patent amortization expense for 2010? (Points : 5) $103,000. $100,000. $94,000. $78,000. 0 1388776321 MultipleChoice 10 Question 5. 5. (TCO C) MaBelle Corporation incurred the following costs in 2010: Acquisition of R & D equipment with a useful life of 4 years in R & D projects $600,000 Start-up costs incurred when opening a new plant 140,000 Advertising expense to introduce a new product 700,000 Engineering costs incurred to advance a product to full production stage 350,000 What amount should MaBelle record as research and development expense in 2010? $500,000 $640,000 $950,000 $1,340,000 (Points : 5) 0 1388776322 MultipleChoice 15 0 1388776325 MultipleChoice 23 Question 9. 9. (TCO D) Stine Co. is a retail store operating in a state with a 6% retail sales tax. The retailer may keep 2% of the sales tax collected. Stine Co. records the sales tax in the Sales account. The amount recorded in the Sales account during May was $148,400. The amount of sales taxes (to the nearest dollar) for May is $8,726. (Points : 5) $8,400. $8,904. $9,438. 0 1388776326 MultipleChoice 26 0 1388776329 MultipleChoice 35 Question 13. 13. (TCO D) Downing Company issues $5,000,000, 6%, 5-year bonds dated January 1, 2010 on January 1, 2010. The bonds pay interest semiannually on June 30 and December 31. The bonds are issued to yield 5%. What are the proceeds from the bond issue? 2.5% 3.0% 5.0% 6.0% Present value of a single sum for five periods .88385 .86261 .78353 .74726 Present value of a single sum for 10 periods .78120 .74409 .61391 .55839 Present value of an annuity for five periods 4.64583 4.57971 4.32948 4.21236 Present value of an annuity for 10 periods 8.75206 8.53020 7.72173 7.36009 (Points : 5) $5,000,000 $5,216,494 $5,218,809 $5,217,308 0 1388776330 MultipleChoice 38 Question 14. 14. (TCO D) A company issues $5,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2010. Interest is paid on June 30 and December 31. The proceeds from the bonds are $4,901,036. Using effective-interest amortization, how much interest expense will be recognized in 2010? (Points : 5) $195,000 $390,000 $392,124 $392,083 0 1388776331 MultipleChoice 40 Question 15. 15. (TCO D) On January 1, Patterson, Inc. issued $5,000,000, 9% bonds for $4,695,000. The market rate of interest for these bonds is 10%. Interest is payable annually on December 31. Patterson uses the effective-interest method of amortizing bond discount. At the end of the first year, Patterson should report unamortized bond discount of (Points : 5) $274,500 $285,500 $258,050 $255,000 0 1388776332 MultipleChoice 45