13 Part 2 of 3 Solich Sandwich Shop had the following long-term asset balances as of December 31, 2018 Accumulated Cost Depreciation Book Value Land $ 92,000 $ 92,000 Bullding 457000 $(164,520) 292.400 Equipment 234,300 (49.400) 184.900 Patent 235,000 (94.000) 141,000 69 bine Solich purchased all the assets at the beginning of 2016 years agol. The building is depreciated over a 10 year service life using the double-declining balance method and estimating no residual value. The equipment is depreciated over a 9. year useful life using the straight-line method with an estimated residual value of $12,000. The patent is estimated to have a five-year service life with no residual value and is amortized using the straight line method. Depreciation and amortization have been recorded for 2016 and 2017 PI References 2. For the year ended December 31, 2018, record amortization expense for the potent of no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet 14 0 Part 3 of 3 Required Information (The following information applies to the questions displayed below) 0.69 points Solich Sandwich Shop had the following long-term asset balances as of December 31, 2018: Accumulated Cost Depreciation Book Value Land $ 92,000 $ 92.000 Building 457.000 $(164,520) 292.480 Equipment 234,300 (49.400) 184,900 Patent 235,000 194,000) 141,000 cook Print References Solich purchased all the assets at the beginning of 2016 (3 years ago). The building is depreciated over a 10-year service life using the double-declining balance method and estimating no residual value. The equipment is depreciated over a 9- year useful life using the straight-line method with an estimated residual value of $12,000. The patent is estimated to have a five-year service life with no residual value and is amortized using the straight-line method. Depreciation and amortization have been recorded for 2016 and 2017 3. Calculate the book value for each of the four long-term assets at December 31, 2018. SOLICH SANDWICH SHOP December 31, 2018 Book value Land Building Equipment Patent 15 Required Information The following information applies to the questions displayed below! Part 14 169 onts New Morning Bakery is in the process of closing its operations. It sold its two-year-old bakery ovens to Great Harvest Bakery for $600,000. The ovens originally cost $800,000 had an estimated service life of 10 years, and an estimated residual value of $50,000. New Morning Bakery uses the straight line depreciation method for all equipment, Book Required: 1. Calculate the balance in the accumulated depreciation account at the end of the second year Pyin Accumulated depreciation References