Here is the first one.

1.Which of the following costs associated with purchasing a tract of land would be included in the cost of land? (Points : 20)

signs paving a building on the land scheduled to be demolished a sprinkler system

Question 2.2.________ would be expensed through amortization. (Points : 20)

A building Oil reserves A copyright Goodwill

Question 3.3.Primm Industrial Contractors purchased a new truck on January 1^stfor $35,000. The truck is expected to have a useful life of five years with a salvage value of $4,500. It is estimated that the truck will be able to operate for 200,000 miles. In year one, Primm Industrial Contractors put 46,000 miles on the truck. What amount should be recorded in year one for depreciation expense if the straight-line method is used? (Points : 20)

$6,100 $7,000 $7,015 $8,050

Question 4.4.The ________ depreciation method would yield the greatest benefit in the first year of the assets life for income tax purposes. (Points : 20)

straight-line units-of-production 150% declining balance 200% declining balance

Question 5.5.ABC Company buys QRS Company for $5,000,000 in January of 20X2. At this time, the net assets of QRS Company are valued at $4,500,000. ABC Company records $500,000 of goodwill. In 20X4, it is determined that the value of goodwill has decreased to $200,000. ABC Company should record ________. (Points : 20)

amortization expense of $300,000 in 20X4 amortization expense of $100,000 in 20X2, 20X3, and 20X4 an impairment loss of $300,000 in 20X4 nothing because goodwill is being written off over its useful life of 40 years