There are 3 pages. The wording is small so please use the transcribed text of the question if needed. Please answer as many as possible to see. I especially need #34.

Help Center b) Using the straight-line method with no salvage value, the expenses recorded for 2021 as a result of these events should include depreciation expense of (c) and interest expense of (d) Note: Use integer only. Don't include S. Use commas in numbers: 3.000 not 3000. 3.000.0000 600.000 Specified Answer for a Specified Answer for:b Specified Answer for: Specified Answer for:d 360.000 36.000 Question 35 Gunther acquires a coal mine at a cost of $1.500.000. Intangible development costs incurred in opening the mine total $360,000. After extraction has occurred. Gunther must restore the property (estimated fair value of the obligation is 5180.000), after which it can be sold for 5510.000. Gunther estimates that 5.000 tons of coal can be extracted. If 900 tons are extracted the first year, which of the following would be included in the journal entry to record depletion? Selected Answer: B. Debit to Inventory for $275.400 Question 36 Elmer Corporation has $2.500.000 of short-term debt it expects to retire with proceeds from the sale of 50,000 shares of common stock. If the stock is sold for $30 per share subsequent to the balance sheet dat, but before the balance sheet is issued. what amount of short-term debt could be excluded from current liabilities? Selected Answer: B. $1,500,000 Friday, December 18, 2020 10:38:28 PM EST OK Question 33 When a plant asset is acquired by issuance of common stock, the cost of the plant asset is properly measured by the Selected Answer: fair value of the stock D. Question 34 A company buys an oil rig for $3,000,000 on January 1, 2021. The life of the rig is 10 years and the expected cost to dismantle the rig at the end of 10 years is 5600,000 (present value at 10% is $231,330). 10% is an appropriate market interest rate for this company. a) The journal entry required to record the asset retirement obligation should include a debit to Oil Rig (fixed asset) for (a) and a credit to Asset Retirement Obligation for [b]. b) Using the straight-line method with no salvage value, the expenses recorded for 2021 as a result of these events should include depreciation expense of fe) and interest expense of [d). Note: Use integer only. Don't include S. Use commas in numbers: 3.000 not 3000. 3.000.0000 600.000 Specified Answer for: a Specified Answer for: b Specified Answer for: Specified Answer for:d 360.000 36.000 Question 35 Gunther acquires a coal mine at a cost of $1,500,000. Intangible development costs incurred in opening the mine total $360,000. After extraction has occurred, Gunther must restore the property (estimated fair value of the obligation is $180,000), after which it can be sold for 5510.000. Gunther estimates that 5.000 tons of coal can be extracted. If 900 tons are extracted the first year, which of the following would be included in the journal entry to record depletion? Selected Answer: B Debit to Inventory for $275,400 Question 31 On September 1, 2018. Vernon Corporation acquired Barlow Enterprises for a cash payment of 5820,000. At the time of purchases. Barlows balance sheet showed assets of 5610.000, liabilities of $240.000, and owner's equity of $420,000. The fair value of Barlows assets is estimated to be 5970,000. The liabilities are all estimated to be at fair value. a) Compute the amount of goodwill acquired by Vernon. (a) b) On December 31, 2020, the fair value of Barlow as a reporting unit is estimated to be 5720,000. The carrying value of Vernon's investment in Barlow at year-end is $750,000. The fair value of Barlow's identifiable net asset excluding the goodwill, is determined to be 655.000. Prepare Vernon's journal entry, if necessary, to record impairment of goodwill Please use the new standard (Hint: The FASB's new goodwill impairment testing guidance - ASU 2017-04 is required for public SEC filers for periods beginning after December 15, 2019). [b] Note: Please use integer only. Do not use a S. Use commas in numbers: 3,000 not 3000. 640,000 Specified Answer for: a Specified Answer for:b 0 Question 32 On December 1, 2020. Hogan Co. purchased a tract of land as a factory site for $780,000. The old building on the property was razed, and salvaged materials resulting from demolition were sold. Additional costs incurred and salvage proceeds realized during December 2020 were as follows: $ 80.000 Cost to raze old building Legal fees for purchase contract and to record ownership 10.000 Title guarantee insurance 16.000 Proceeds from sale of salvaged materials 7.000 In Hogan's December 31, 2020 balance sheet. what amount should be reported as land? (a) Question 33 When a plant asset is acquired by issuance of common stock, the cost of the plant asset is properly measured by the Selected Answer: fair value of the stock D. Question 34 A company buys an oil rig for $3,000,000 on January 1, 2021. The life of the rig is 10 years and the expected cost to dismantle the rig at the end of 10 years is 5600,000 (present value at 10% is $231,330). 10% is an appropriate market interest rate for this company. a) The journal entry required to record the asset retirement obligation should include a debit to Oil Rig (fixed asset) for (a) and a credit to Asset Retirement Obligation for [b]. b) Using the straight-line method with no salvage value, the expenses recorded for 2021 as a result of these events should include depreciation expense of [c] and interest expense of [d). Note: Use integer only. Don't include S. Use commas in numbers: 3.000 not 3000. 3.000.0000 600.000 Specified Answer for: a Specified Answer for: b Specified Answer for: Specified Answer for:d 360.000 36.000 Question 35 Gunther acquires a coal mine at a cost of $1,500,000. Intangible development costs incurred in opening the mine total $360,000. After extraction has occurred, Gunther must restore the property (estimated fair value of the obligation is $180,000), after which it can be sold for $510.000. Gunther estimates that 5.000 tons of coal can be extracted. If 900 tons are extracted the first year, which of the following would be included in the journal entry to record depletion? Selected Answer: B Debit to Inventory for $275,400 b) Using the straight-line method with no salvage value the expenses recorded for 2021 as a result of these events should include depreciation expense of (c) and interest expense of (d) Note: Use integer only. Don't include 5. Use commas in numbers: 3.000 not 3000, 3,000,0000 600.000 Specified Answer for a Specified Answer for:b Specified Answer for: Specified Answer for:d 360.000 36.000 Question 35 Gunther acquires a coal mine at a cost of $1.500.000. Intangible development costs incurred in opening the mine total $360,000. After extraction has occurred. Gunther must restore the property (estimated fair value of the obligation is $180.000), after which it can be sold for 5510.000. Gunther estimates that 5.000 tons of coal can be extracted. If 900 tons are extracted the first year, which of the following would be included in the journal entry to record depletion? Selected Answer: B. Debit to Inventory for $275.400 Question 36 Elmer Corporation has 2.500.000 of short-term debt it expects to retire with proceeds from the sale of 50.000 shares of common stock. If the stock is sold for $30 per share subsequent to the balance sheet date, but before the balance sheet is issued, what amount of short-term debt could be excluded from current liabilities? Selected Answer: B. 51,500,000 Friday, December 18, 2020 10:38:28 PM EST OK Question 31 On September 1, 2018. Vernon Corporation acquired Barlow Enterprises for a cash payment of 5820,000. At the time of purchases. Barlows balance sheet showed assets of 5610.000, liabilities of $240.000, and owner's equity of $420,000. The fair value of Barlows assets is estimated to be 5970,000. The liabilities are all estimated to be at fair value. a) Compute the amount of goodwill acquired by Vernon. (a) b) On December 31, 2020, the fair value of Barlow as a reporting unit is estimated to be 5720,000. The carrying value of Vernon's investment in Barlow at year-end is $750,000. The fair value of Barlow's identifiable net asset excluding the goodwill, is determined to be 655.000. Prepare Vernon's journal entry, if necessary, to record impairment of goodwill Please use the new standard (Hint: The FASB's new goodwill impairment testing guidance - ASU 2017-04 is required for public SEC filers for periods beginning after December 15, 2019). [b] Note: Please use integer only. Do not use a S. Use commas in numbers: 3,000 not 3000. 640,000 Specified Answer for: a Specified Answer for:b 0 Question 32 On December 1, 2020. Hogan Co. purchased a tract of land as a factory site for $780,000. The old building on the property was razed, and salvaged materials resulting from demolition were sold. Additional costs incurred and salvage proceeds realized during December 2020 were as follows: $ 80.000 Cost to raze old building Legal fees for purchase contract and to record ownership 10.000 Title guarantee insurance 16.000 Proceeds from sale of salvaged materials 7.000 In Hogan's December 31, 2020 balance sheet. what amount should be reported as land? (a)