Gonzalez Co. accrues the liability for vacation pay at the rate of pay in effect when the compensated time is earned. Gonzalez has 90 employees who all work 8-hour days. The employees earn 12 paid vacation days per year. They may take those vacation days any time after the year in which the days are earned. Information about the rates of pay, vacation days earned, and vacation days used for 2020, 2021, and 2022 is as follows: Year Vacation days Hourly wages earned by each employee Vacation days used by each employee 2020 $30.00 12 0 2021 $31.00 12 9 2022 $32.00 12 12 What amount should Gonzalez present on its December 31, 2022 balance sheet as its liability for vacation pay? $410,400 $803,520 $343,440 $276,480 Assume Costco wants to compete with large manufacturers of golf bags. Costco begins selling a new model of golf bag in its stores for $150. The bag comes with a coupon that customers may mail in to receive a free box of one dozen Kirkland (Costco's brand) golf balls. Each dozen golf balls cost Costco $9.50 to produce and $1.50 to mail to the customer. Kirkland estimates that 40% of the customers who buy a golf bag will mail in the coupon for the free golf balls. During the first quarter of 2020 Costco sold 12,000 golf bags. During that time, 1,000 customers mailed in their coupons and Costco sent them their golf balls. What is the rebate expense and liability, respectively, shown on Costco's financial statements at the end of the first quarter of 2020? $52,800; $52,800 $52,800; $41,800 $63,800; $52,800 $41,800; $41,800 On January 1, 2020 Kaline Shipping Co. purchases an oil tanker depot for $2,000,000. Kaline expects to operate the depot for ten years. At the end of that period, Kaline is legally required to dismantle the depot and remove the underground storage tanks. Kaline estimates the cost to dismantle the depot and remove the tanks in ten years will be $700,000. The present value of this obligation, discounted at an appropriate interest rate of 5% is $429,737. What expense should Kaline record at December 31, 2020 as a result of these events? Depreciation expense of $200,000 Depreciation expense of $200,000 and interest expense of $21,487 Depreciation expense of $242,974 and interest expense of $21,487 Depreciation expense of $200,000 and interest expense of $35,000