In 2018, Martin Corp. acquired Glynco and recorded goodwill of $106 million. Martin considers Glynco a separate reporting unit. By the end of 2021, the net assets (including goodwill) of Glynco are $326 million and its estimated fair value is $267 million. The amount of the impairment loss that Martin would record for goodwill at the end of 2021 is: Multiple Choice $161 million O $59 million. $47 million $0 . An asset was acquired on January 1, 2021, for $17,000 with an estimated four-year life and $2,000 residual value. The company uses straight-line depreciation. Calculate the gain or loss if the asset was sold on December 31, 2023, for $6,500. Multiple Choice 14 $3,000 loss. O $750 loss $750 gain. O $2,750 gain - Chapter 11 i Saved Help Save & Exit Su Archie Co. purchased a framing machine for $48,000 on January 1, 2021. The machine is expected to have a four-year life, with a residual value of $3,000 at the end of four years. Using the sum-of-the-years' digits method, depreciation for 2021 and book value at December 31, 2021, would be: (Do not round intermediate calculations.) Multiple Choice O $13,200 and $28,800 respectively. $18,000 and $30,000 respectively. O $18,000 and $27,000 respectively. $19,200 and $25,800 respectively. Tatsuo Corporation purchased farm equipment on January 1, 2019, for $288,000. In 2019 and 2020, Tatsuo depreciated the asset on a straight-line basis with an estimated useful life of five years and a $78,000 residual value. In 2021, due to changes in technology, Tatsuo revised the residual value to $33,000 but still plans to use the equipment for the full five years. What depreciation would Tatsuo record for the year 2021 on this equipment? Multiple Choice $24,000. O $57,000 $50,400 $51,000