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Please answer questions #6, #7, #8, #9 and #10, SHOWING ALL WORK ACCORDINGLY ON ALL PARTS. Thank you! Blossom Company buys land for $149000 in
Please answer questions #6, #7, #8, #9 and #10, SHOWING ALL WORK ACCORDINGLY ON ALL PARTS. Thank you!
Blossom Company buys land for $149000 in 2021 As of 3/31/22, the land has appreciated in value to $157200. On 12/31/22, the land has an appraised value of $160500. By what amount should the Land account be increased in 2022? O $8200 O $11500. O $3300 OSO. The term applied to the periodic expiration of a plant asset's cost is O amortization. o cost expiration. O depreciation O depletion. A gain or loss on disposal of a plant asset is determined by comparing the O replacement cost of the asset with the asset's original cost. O original cost of the asset with the proceeds received from its sale. O book value of the asset with the asset's original cost. O book value of the asset with the proceeds received from its sale. A computer company has $3920000 in research and development costs. Before accounting for these costs, the net income of the company is $ 4520000. What is the amount of net income or loss before taxes after these research and development costs are accounted for? O $ 600000 loss O $3920000 net income O Cannot be determined from the information provided O $600000 net income. Goodwill O can be sold by itself to another company. O is only recorded when the purchase of an entire business occurs. O may be expensed upon purchase if desired. O can be purchased and charged directly to stockholders' equity Step by Step Solution
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