Helen just purchased a hotel in the city for $6,250,000 for her business. The hotel would have cost $3,975,000 five years ago. Helen had planned to purchase the hotel for the last five years. At which amount should Helen report the building on a Balance Sheet prepared in accordance with GAAP (Generally Accepted Accounting Principles)? $6,250,000 because Helen paid $6,250,000 for the hotel $3,975,000 because Helen had intentions of purchasing the property five years ago A fairly determined amount between $3.975,000 and $6,250,000 Either amount is acceptable under GAAP Question 4 1 pts Gross payroll for the employees of MightyPower Enterprises totals $800,000 per week. From this must be withheld Social Security taxes of 6.20% and Medicare taxes of 1.45%. In addition, federal and state income tax withholdings amount to 10.00% of gross payroll. How much CASH is paid to EMPLOYEES for one week? $727,200 O $720.000 O $726,480 O $887.200 O $658,800