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1)Liver, Patrick & Quincy LLP, is beginning liquidation

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1)Liver, Patrick & Quincy LLP, is beginning liquidation. It has no cash, total liabilities of $60,000, including a $10,000 loan payable to Patrick, and equal partners' capital account balances of $40,000. The income-sharing ratio is 5:1:4, respectively. If a portion of the noncash assets with a carrying amount of $140,000 realizes $120,000, the cash payment that Patrick receives is:
A) $20,000
B) $44,000
C) $53,000
D) Some other amount

2)Omaha Corp. had $56,000 net income from 2019. Number of average outstanding common shares 12.000. What's the EPS? *

$12

$4.66

$6.66

$5.6

3)Jennings Mining Co. acquires a silver mine at $24,000,000. Company estimates 60,000 tones silver there. After extracted all the mine residual value estimated is $1,000,000. What's the per tone depletion?

4)Apple has recently split its stock on a 4-for-1 basis. After this transaction, which of the following did really happened: *

Number of outstanding shares changed

Total share holder's equity changed

Apple's balance sheet total changed

This transaction required a journal entry

5)Gray corp buys a machine from abroad. List price is $20,000; customs duty; $1,000 installation of the machine $4,000 What is the acquisition cost of equipment? *

$20,000

$25,000

$21,000

$24,000