Exact Photo Service purchased a new color printer at the beginning of Year 1 for $38,000. The printer is expected to have a four-year useful life and a $3,500 salvage value. The expected print production is estimated at 1,500,000 pages. Actual print production for the four years was as follows: Year 1 Year 2 Year 3 Year Total 390,000 410.000 420,000 300,000 1,520,000 The printer was sold at the end of Year 4 for $1,650. Required a. Compute the depreciation expense for each of the four years, using double-declining-balance depreciation. Depreciation Expense Year Year 2 Years Ver Total accumulated depreciation Bill's Wrecker Service has just completed a minor repair on a tow truck. The repair cost was $1,550, and the book value prior to the repair was $6,500. In addition, the company spent $12,000 to replace the roof on a building. The new roof extended the life of the building by five years. Prior to the roof replacement, the general ledger reflected the Building account at $85,000 and related Accumulated Depreciation account at $32,000. Required After the work was completed, what book value should appear on the balance sheet for the tow truck and the building? Book Value Tow Truck Building Required Which of the following items should be classified as long-term operational assets? Long-Term Operational Assets a. Prepaid insurance b. Coal mine c. Office equipment d. Accounts receivable e. Supplies f. Copyright g. Delivery van h. Land used in the business i. Goodwill j. Cash k. Filing cabinet 1. Tax library of accounting firm Arizona Corp. acquired the business Data Systems for $320,000 cash and assumed all liabilities at the date of purchase. Data's books showed tangible assets of $260,000, llabilities of $40,000, and stockholders' equity of $220,000. An appraiser assessed the fair market value of the tangible assets at $250,000 at the date of acquisition Required a. Compute the amount of goodwill acquired. b. Record the acquisition in a financial statements model: Arizona Corps financial condition just prior to the acquisition is shown in the following statements model. Complete this question by entering your answers in the tabs below. Required A Required Compute the amount of goodwill acquired. (Amounts to be deducted should be indicated with minus sign) Acquisition Price Cash paid $ 320,000 Liabilities assumed 320,000 FMV of Goodwill Total Required B> Arizona Corp. acquired the business Data Systems for $320,000 cash and assumed all labilities at the date of purchase. Dato's books showed tangible assets of $260.000. Habilities of $40,000, and stockholders' equity of $220,000. An appraiser assessed the fair market value of the tangible assets at $250,000 at the date of acquisition Required a. Compute the amount of goodwill acquired D. Record the acquisition in a financini statements model. Arizona Corps financial condition just prior to the ncquisition is shown in the following statements model Complete this question by entering your answers in the tabs below. Required Required Record the acquisition in a financial statements model. Arizona Corp.'s financial condition just prior to the acquisition is shown in the following statements model in the Flow column, inte DA to designnte operating activity, IA for investment activity, and FA for financing activity Enter any decreases to account balances and cash outfiows minus sign. Not all cells in the Statement of Cash Flows column may require an input - nave cells blank if there is no corresponding input needed.) Show ARIZONA CORP Hortzontal Statements Model Balance Sheet Income Statement Statement of Cash Required Compute the amount of goodwill coured econd the custo ni tatements model. Astrona Corp's financial condition just prior to the acquistion is shown in the following statement model 30 Complete this question by entering your answers in the tabs below. red Record the statements mode Arron Corporal condition just prior to the solution is shown in the folosing statemendi model in Home Operating. IA for investment and for fiando activity interferences to account balances and cash outflow minen on the Same of Chrow may ure ingute alls blank there no corresponding out neded) She ARITONA CORP Banche Income 450.000 3 Pitney Co. purchased an office building, land, and furniture for $500,000 cash. The appraised value of the assets was as follows: Land Building Furniture Total $180,000 300,000 120,000 $600,000 20 Book Required a. Compute the amount to be recorded on the books for each asset. b. Show the purchase in a horizontal statements model. References Complete this question by entering your answers in the tabs below. Required A Required B Compute the amount to be recorded on the books for each asset. Allocated Cost Land Building Fumitur Check my work 3 Required Compute the around to be recorded on the books for each anset b. Show the purchase in a horontal statements model 30 Complete this question by entering your answers in the tabs below. show the purchase in a horizontal statements model in the Cash Flow column, the toto de grate perting activity, IA for investing activity for Finang Tort canner to second and the Nation in the statement of Crown may require an mutave no responding and THEY CO Matement Model Car Land + Building