tom's Roadside Burger Stand has a beginning balance in the Accumulated Depreciationlong dashEquipment account of $260,000. The depreciation expense on the equipment for the year was $60,000. At the end of the year, the balance in the Accumulated Depreciationlong dashEquipment account was $150,000. What was the accumulated depreciation on the equipment sold during the year?

$90000

$110000

$200000

$170000

If a company has goodwill on its books, the goodwill:

May have been internally created

Is amortized over 40 years

Or useful life, whichever is less

May be wrotten up to fair value

CBS Corporation acquired a patent for $2,000,000. The patent has a legal life of 50 years. Because of changing technology, this patent is expected to generate revenue for only 10 years and have no residual value. The annual amortization expense for the patent is: (Round your final answer to the nearest dollar.)

$0

$200000

$2000000

$40000

In 2017, First Company purchased Second Company for $19,000,000 cash. At the time of purchase, Second Company's assets had a market value of $25,000,000 and the liabilities had a market value of$18,000,000. At the time of purchase, Second Company's assets had a book value of $15,000,000 and the liabilities had a book value of $10,000,000. What amount of goodwill is recorded?

$18000000

$12000000

$7000000

$6000000

If a natural resource is extracted and not sold, which of the following accounts are debited and credited?

Debit cost of goods sold and credit inventory

Debit depletion expense and creit accumulated depletion

Debit invetpry and credit natural resource

Debit accumulated depletion and credit natural resources

**please answer all**