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20. On March 1, Chapine Company purchased a new stamping machine for $5,000. Chapine paid cash for the machine. Other costs associated with the machine were: transportation costs, $300; sales tax paid $200; and installation cost, $100. The cost recorded for the machine was A) S5,200 B) $5,600 C) $5,500 D) $5,000. E) None of the above is correct. 21. Which of the following is true? A) The book value at the end of an asset's useful life will be the same under all the depreciation methods allowed under GAAP.- B) The total depreciation in the accumulated depreciation account will be the same at the end of the asset's useful life under all the methods allowed under GAAP. . .. C) The annual depreciation expense will differ under the various depreciation methods. D) Both A and B are true. E) All of the above are true. 22 Which of the following statements is true?. A) Accumulated depreciation is a contra account in the income statement, B) The current ratio is ourrent assets divided by ourrent liabilities. C) Retained earnings is the accumulated earnings plus the accumulated dividends paid. D) Book value of a building is the cost less the cturrent year's depreciatin. E) None of the above is correct. 23. Sue Company reported net income in 20A of $27,000 and in 20B of $32,000. Later it was discovered that the ending inventory for 20A was understated by $15,000. Disregard income taxes. The correct amounts ofnet income for 20A and 20B were A) 20A: $27,000;20B: $32,000. ' B) 20A: $42,000; 20B: $17,000. C) 20A: $12,000; 20B: $47,000 D) 20A: $17,000; 2QB: $32,000 E) None of the above is correct. 29The term used for matching the cost of an intangible asset with the revenues generated through the use of the asset is A) Depreciation. B) Depletion. C) Amortization. D) Appraisal. E) Book value