On August 1, Daisy's Groomers purchased new grooming equipment for $48,000 plus 8% sales tax. The equipment was advertised for $52,000. Other costs associated with the grooming equipment were: training for use of new equipment, $800; delivery cost of $225; installation cost, $1,100; and hiring of a new groomer, $1,000/month. At what amount will the grooming equipment be recorded on a balance sheet? Multiple Choice $ 53965 $ 53,965 $ 53,165 $ 54,085 $ 55,085 XYZ, Inc. purchased an office building on October 1, 2020, that was put on the books at $800,000. The building is expected to be used for 35 years and at the end of the 35 years will be sold for an estimated selling price of $100,000. XYZ closes its books at the end of every calendar year. XYZ, Inc. uses the straight-line method of depreciation. Based on this information, which of the following is correct? Multiple Choice Depreciation Expense at 12/31/20 is $20.000. o Accumulated Depreciation at 12/31/20 is $20.000 o C) Depreciation Expense at 12/31/2021 is $5,000 Accumulated Depreciation at 12/31/21 is $25,000 Below are assets found of the Balance Sheet of IQ Testing Corp. Which of the following assets are amortized? Multiple Choice 0 Goodwill 0 Patents 0 Equipment 0 Timberland