Tyler Company purchased machinery on January 1 at a list price of $200,000, with credit terms Payment was made within the discount period. Tyler paid $10,000 sales tax on the machinery, and paid mstallation charges of $3,520. Prior to installation, Tyler paid $8,000 to pour a concrete slab on which to place the machinery. What is the total cost of the new machinery? a. $209,520 $217,520 c. $221,520 d. $202,000 Failure to record depreciation expense causes which of the following to occur: a. Current assets are not affected and liabilities are understated. Current assets are overstated and retained earnings is overstated Current assets are not affected and retained earnings is overstated. d. Current assets are overstated and retained earnings is understated. A company sells a plant asset that originally cost $150,000 for $50,000 on December 31, 2015. The accumulated depreciation account had a balance of $60,000, which includes the current year's depreciation. The company should recognize a a. $100,000 loss on disposal. b $40,000 gain on disposal. 9. $40,000 loss on disposal. $25,000 loss on disposal. 10. Assume the following sales data for a company: 2012....$900,000 2011. 840,000 2010....s700,000 If 2010 is the base year, what is the percentage increase in sales from 2010 to 2011 a. 125% b. 16796 c. 25% d, 20% v/ 1. Gienthe following account balances at year end, compute the toal intangible assets on the at year end, compute the total intangible assets on the balance sheet of Fiorella Enterprises. Cash Accounts Receivable Trademarks Goodwill Research & Development Costs $1,500,000 4,000,000 1,000,000 4,500,000 2,000,000 a. $11,500,000 b. $7,500,000 c. $5,500,000 d. $9,500,000 On May 1, 2015, Wagner useful life of 5 years, and a 20-year legal life. The amount of Amortization Expense recognized for the year 2015 would be a. $15,000. v b. $10,000. c. $7,500 d. $3,750. 12. Company purchased a patent for $75,000. It is estimated that the patent will have a Page 2 of 11