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Aequired infermetion (The following information apples to the questioves dispiryed belove] Herois Sandwich Shop had the following longterm wsset bolances bs of lanuary 1,2024: Addional

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Aequired infermetion (The following information apples to the questioves dispiryed belove] Herois Sandwich Shop had the following longterm wsset bolances bs of lanuary 1,2024: Addional information: - Hero's purchased al the assets at the beginning ot 2022 . The bulding is deprecisted over a 20 -year service life using the double-declining balance nethod and estimating no residual value. - The equipment is depreciated over a Eyear usefyr Me ising the staight-ine method was an emimated residual value of 514000 - The pofent is estimated to have a fiveyear senice ife wath no residjal value and is amorticed using the straightine method - Depreciation and amortization have been recorded for 2022 and 2023 first two years Required: Required: For the yeer ended December 31,2024 (third year), recoed depiecietion eupense for buidings and echument, Land is isot. depreclated (if no entry le reeulred for e trensectlon event, seiect "Mo dournel Einary Requlred" in the first aecoubt tield) Jourmal entry worksheet 2 Fecord depreciaten of the building. Required Informetion [The following information applies to the questions disployed below] Hero's Sandwich Shop had the following long term asset balances as of January 1,2024 Additional information - Hero's purchased all the assets at the beginning of 2022 - The building is depreciated over a 20-year service life using the double-declining-balance method and estimating no residual value. - The equipment is depreciated over a 8 -year useful life using the straight-line method with an estimated residual value or 514,000 - The patent is estimated to have a five-year service life with no res dual value ahd is amortized using the straight-line method. - Depreciation and amortization have been recorded for 2022 and 2023 (first rwo years) 2. For the year ended December 31,2024 , record amorization expense for the patent, fit no entry is required for s transactionievent, seiect "No Journal Entry Requlred" In the first occount fiele.) Journal entry worksheet Record amortization of the patent. Wole. ciater debits tefore aedis

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