Dell Company purchases a patent for $144,000 on January 1, 2017. The estimated useful life is 8 years. Prepare the journal entry to record amortization expense for the second year. 2- Roger company sold inventory for $320,000 cash All sales are subject to a 16% sales tax. Record this transaction. Bart Company purchased equipment on January 1, 2016, at a total cost of $400,000. The equipment has an estimated salvage value of $10,000 and an estimated useful life of 5 years. If the straight-line method of depreciation is used, the amount of accumulated depreciation at December 31, 2017, is: Jefferson Company purchased equipment on January 1, 2017. The equipment cost $60,000 and has an estimated life of 8 years and a salvage value of $8,000. What was the depreciation expense for the equipment for 2018 under the double-declining-balance method? Select one: a. $11,250. b. $15,000 c. $6,500 d. $6,562 Becky Company has total sales of $4,515. If the sales include taxes of 5%, the amount to be credited to Sales Revenue is: Select one: a. No correct answer given b. $4,300 c. $4,289.25 d. $4,000 Gagner Company purchases land for $175,000 cash. The Company assumes $1,500 in property taxes due on the land. The title and attorney fees totaled $1,000. The Company has the land graded for $2,200. What amount does Gagner Company record as the cost for the land? Select one:

a. $157,200
b. $175,000
c. $179,700
d. $157,500

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