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On January 1, 2021, Vitalia, Inc purchases a patent for $31,000. It has an expected useful life of five years with no residual value. Vitalia
On January 1, 2021, Vitalia, Inc purchases a patent for $31,000. It has an expected useful life of five years with no residual value. Vitalia uses the straight-line method. What is the carrying value of the patent on December 31, 2022? Multiple Choice 0 $28,600 0 $18,600 o $15,600 0 $22.400 A company purchased property for $160,000. The property included a building, equipment and land. The building was appraised at $86,000, the land at $57,000, and the equipment at $30,000. What is the amount of cost to be allocated to the building in the accounting records? Multiple Choice $86,000 $0 $160,000 O $79,520
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