The financial manager asked you to calculate amortization expense for the Goodwill. The value of the Goodwill is $100,000 and its life expected to continue forever, you reply to financial manager: A I cannot because It's non-physical asset B I cannot because Its life is indefinite I cannot because It's salvage value not given D) Its $100,000 Black co. Acquired a new Machine for $47,000. Salvage value of Machine at the end of useful life is $7,000. Units produce during useful life as flows. Year...... ..Units produced 2017......... ....100,000 2018........ ....80,000 2019....... .130,000 2020...... ......90,000 Required: 1) Calculate Depreciation per unit. 2) Calculate Depreciation expense in 2019? White Co. purchases a new machine costing $312,000 with a 5-year life and an estimated salvage value $28,000. The depreciation expense at year 2 using Declining Balance Method is A $49,920 B$44,928 C) $39,936 D $74,880 Sudan Company allows customers to use either of two credit cards: VISA or MASTER cards. VISA cards deduct 3% service charge for sales on its credit card and immediately credits the bank account of Sudan. MASTER cards deduct 4% service charge and usually pays within one week (delayed). The following transactions happened during March: March 4 ........... Sold $7,000 of goods to Customer (Nabeel) who used VISA card March 6 ............. Sold $8,000 of goods to Customer (Khalid) March 10 ........... Sold $9,000 of goods to customer (Fardan) who used MASTER card March 17 ......... Received the amount due from MASTER card Required: Prepare journal entries to record the above transactions What is the difference between the direct write-off method and the allowance method in accounting for bad debt expense? Use the editor to format your answer Big Co. purchased Small Co. at a price of $650,000. The net assets of Small Co. is $625,000. What is the Goodwill of Small Co (A) $625,000 B) $1,275,000 C $650,000 D) $25,000