A B QUESTION 2 3 On April 1, 2013, Bob's Restaurant and Brewery purchased a new bottle sealing machine for $99,000. The machine has an estimated useful life of 10 years and is expected to have no residual value. 5 Assume that the company has adopted a partial-year depreciation policy, where depreciation is taken on a monthly basis, 5 7. Required a) Prepare the table using the following facts. 9 The company uses straight-line depreciation The asset is sold on April 30, 2021, for $31,000. . The company's fiscal year end is December 31. 10 11 12 13 YEAR COST OF LONG-TERM ASSET DEPRECIATION EXPENSE ACCUMULATED DEPRECIATION TO DATE NET BOOK VALUE 14 15 16 2013 17 2014 18 2015 19 2016 20 2017 21 2018 22 2019 23 2020 2021 05 26 27 8 09 QUESTION 3 Details of some of Laguna Beach Resort's long-term assets are listed below ASSET COST DATE OF PURCHASE RESIDUAL VALUE ESTIMATED USEFUL UFE Mar 30, 2018 Jul 1, 2018 Equipment Machinery $1,27,800 $95,800 $18,000 $25,000 10 years 12 years On April 30, 2021, Laguna Beach Resort disposed of both of these assets. The total proceeds received for the assets are $180,000 Both assets use the straight-line depreciation method based on the number of months owned in the year. Laguna has a December 31 year end. Required Prepare the depreciation table. Round all answers to the nearest whole number. YEAR COST OF LONG TERM ASSET DEPRCIATION EXPENSE ACCUM DEPRECIATION TO DATE NET BOOK VALUE EQUIPMENT + TRUCK B38 A 1 QUESTION 1 2 3 4 1 Where are long-term assets listed on the balance sheet? 5 6 7 CD 9 2 In additon to the purchase price, what other expendiutres need to be included in the cost of a long-term asset when it is purchased? 10 11 12 13 14 3 What is the difference between repairs and maintenance and capital expenditures? -16 4 What accounts are affected when recording depreciation? 4 & 5 &&&& 5 What is the decline in value of intangible assets called? **