What is depreciation expense for Year1 using the double declining balance method? dollar25,000 dollar96,000 dollar100,000 dollar48,000 dollar50,000 There are special rules in U.S. GAAP for software companies. For all other product research and development, generally accepted accounting principles in the United States require firms to capitalize and amortize all research and development costs over a period no greater than 5 years capitalize and amortize all research and development costs over the future expected benefit period expense research costs and capitalize development costs to be amortized over the period they benefit capitalize and amortize all research and development costs over a period no greater than 10 years expense all research and development costs in the period incurred Vinson Company purchased a patent for dollar180,000 at the beginning of Year8, and estimated that its expected useful life was 5 years from the purchase date. The patent has a legal life of 20 years. What amount should be recorded as amortization expense for the patent in Year8? dollar9,000 dollar36,000 dollar18,000 dollar72,000 dollar180,000 A company receives dollar105 for merchandise sold to a consumer, of which dollar5 is for sales tax. When this transaction is recorded, the dollar5 of sales tax: is included in sales revenue. increases current liabilities. increases sales tax expense (decreases RE). none of the above. Brokson purchased a machine four years ago for dollar3,500. Brokson has recorded dollar2,400 of depreciation on the machine. Now, Brokson sells the machine for dollar800. Which of the following is true? Brokson has a dollar2700 loss from the sale Brokson has a dollar800 gain from the sale Brokson has a dollar300 gain from the sale. Brokson has a dollar300 loss from the sale