The balance sheet of Cattleman's Steakhouse shows assets of $90,000 and liabilities of $18,000. The fair value of the assets is $94,500 and the fair value of its liabilities is $18,000. Longhorn paid Cattleman's $104,000 to acquire all of its assets and liabilities. Longhorn should record goodwill on this purchase of: Multiple Choice O $11100 $38,600 $9.500 O $27,500 Alamos Co. exchanged equipment and $18,600 cash for similar equipment. The book value and the fair value of the old equipment were $81,500 and $91700, respectively. Assuming that the exchange has commercial substance, Alamos would record a gain/loss) of: a Multiple Choice $0 $28.800 ${10,200) $10,200 3 Cebrex Software began a new development project in 2020. The project reached technological feasibility on June 30, 20. and was available for release to customers at the beginning of 2022. Development costs incurred prior to June 30, 2021. were $3,500,000 and costs incurred from June 30 to the product release date were $1700,000. The economic life of the software is estimated at four years. For what amount will software be capitalized in 2021? Multiple Choice 51700,000 50 $6.800,000 $3.500.000 Pensacola Inc. exchanged old equipment for new equipment in two exchange transactions. Each transaction has commercial substance, Equipment A Equipment B Old Equipment Book Value Pair value $74,500 $80,500 $61,300 $55,100 Cash Received $11,700 $ 9,700 For Equipment B, Pensacola would record again/loss) of: Multiple Choice $4,700 O $16.2001 None of these answer choices are correct O $4700 $(6,200). 45 None of these answer choices are correct. $(7.200)