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9. At December 31, 2018, the end of the Hoth Company's fiscal year, a physical count of inventory revealed an ending inventory balance of $50,000. The following items were not included in the physical count: Merchandise shipped to a customer on 12/28 fo b. destination$1,500 (merchandise arrived at customer's location on 1/5/19 Merchandise (merchandise arrived at customer's location on 1/2/19) shipped to a customer on 12/29 fo.b. shipping point 4,000 Merchandise purchased from a supplier, shipped f.o.b. destination on 12/26, arrived on January 4, 2019 Hoth's 2018 ending inventory should be: A. $50,000 B. $51,500 C. $55,500 D. $56,000 E. $57,500 10. A depreciable asset has an estimated residual value equal to IS% of its original cost. At the end of its estimated useful life, the accumulated depreciation would equal to the original cost minus residual value under which of the following depreciation methods? Double-deslining Units-of Straight-line balanceproduction A. B. C. D. E. Yes Yes No No Yes No No No No No Yes 11. An exclusive 20-year right to manufacture a product or use a process is a: A. Patent B. Copyright C. Trademark D. Franchise E. Goodwill 12. Solo Co. purchased all of the outstanding stock of Falcon Co. paying $963,000 cash. Solo assumed all of the liabilities of Falcon. Book values and fair values of acquired assets and liabilities were: Book Value Fair Value $130,600 $124,100 nt, and equipment (net) 604,000 759,000 151,000 175,000 Current asset(net) Liabilities Solo would record goodwill of: A. $228,400 B. $379,400 C. $254,900 D. $79,900 E. So

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