Multiple Chnoice Question 148 pany sells Currnh dpnt aset that originally cost $564000 for $222000 on December 31, 2017. The accumulated depreciation account had a balance of $282000 after the year's depreci n of $47000 had been recorded. The company should recognize a O$60000 loss on disposal. $222000 loss on disposal. $40000 gain on disposal. O$222000 gain on disposal. Open Show Work Click if you would like to Show Work for this question: Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER Multiple Choice Question 56 Splish Brothers Inc. purchases land for $450000 cash. The clinic assumes $4000 in property taxes due on the land. The title and attorney fees totaled $2400. The clinic had the land graded for $8600. What amount does Splish Brothers Inc. record as the cost for the land? $456400. $458600. O $465000. O$450000. Open Show Work Click if you would like to Show Work for this question: Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER Multiple Choice Question 109 On January 1, a machine with a useful life of 4 years and a salvage value of $28000 was purchased for $163000. What is the depreciation expense for year 2 under straight-line depreciation? $16875 $33750. $67500. $40750. Open Show Work Click if you would like to Show Work for this question: Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER Multiple Choice Question 59 Flounder Corp. purchased land for a new parking lot for $145000. The paving cost $187000 and the lights to illuminate the new parking area cost $65000. Which of the following statements is true with respect to these additions? O$332000 should be added to the Land account. $397000 should be added to Land Improvements. $252000 should be added to Land Improvements. $397000 should be added to the Land account. Open Show Work Click if you would like to Show Work for this question: Question Attem pts: 0 of 1 used