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7. Research Corp., a publicly accountable entity, incurred the following costs in its research and development division Jan 1. July 31, 2015 Aug 2Dec 31, 202 12.00 Materials Labour costs prectly attributable overhead 8.00 15.306 Atuly 31, 2012, Research Corp. determined that the project was technically feasible and commercially viable. Research Corp. had sufficient resources and intentions to complete the project and was confident that there was demand in the marketplace for the product. How much If any of the costs can be capitained for fiscal 2012? $59,000 9. Patent Corp., a publicly accountable entity, purchased a company with the following assets and abilities for $100,000 Carrying valuel Fair value 10,000 10,000 18.000 17.000 Property, plant and equipment 10,000 32,000 15,000 Accounts payable Long term liabilities Equity 40.000 15,000 15.000 10.000 47,000 How much goodwill should be recorded? a $53,000 11. On January 1, 2013. B en purchased a machine, incurring the expenditures listed below. The machine had an estimated useful ife of 10 years, and uses straight-line depreciation for its equipment, ce cast of machine Shipping costs paid ne concrete atom to Suncart machine Testing of machine prior to general use $100,000 15,000 10.000 30.000 What amount should be capitalized as the cost of the machinery for 2013? $155.000 12. Only 1, 2012, Mundo Corporation purchased factory equipment for $50,000. Residual value was estimated at $2.000. The equipment will be depreciated over 10 years using the double declining balance method. Munde should record 2013 depreciation expense of: 13. Crowder Company acquired a tract of land containing an extractable natural resource Crowder is required by the purchase contract to restore the land to a condition suitable for recreational use after it has extracted the natural resource, Geological Surveys estimate that the recoverable reserves will be 5,000,000 tons and that the land will have a value of $1,000,000 after restoration. Relevant os information follows: Land Estimated restoration costs $9,000,000 1.500.000 of Crowder maintains no inventories of extracted material, what should be the depletion expense per ton of extracted material

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