Hi, can you please help me solve these parts step by step with formulas. Thanks, I will give a rating!

***Please solve all parts for credit! Thanks, I appreciate it!

a) Fill in the Blank: 5. The systematic, periodic transfer of the cost of a plant asset to expense during the expected useful life is called 6. The estimated value of a plant asset at the end of its useful life is called 7. The cost of a plant asset minus accumulated depreciation on the asset is called the 8. A useful life of 5 years is equivalent to a straight-line depreciation rate of 9. Long-term assets that are useful in the operations of a business, are not held for sale, and are without physical qualities are called 10. Machinery acquired on the first day of the current fiscal year for $50,000 has an estimated useful life of 4 years or 25,000 machine hours and a salvage value of $5,000. The machinery was used for 7,000 hours during the current year. Depreciation for the current year using the units of production method is 11. Equipment that cost $20,000 was originally estimated to have a useful life of 5 year and a salvage value of $2,000. The equipment has been depreciated for 2 years using straight line depreciation. During the third year, it is estimated that the remaining useful life is 2 years (instead of 3) and that the residual value will only be $1,000. The depreciation expense on the equipment in year 3 using the straight line method would be 12. Stabler Company acquires a patent at the beginning of its fiscal year for $100,000. The patent expires in 10 years, but it is expected to be of value for only 5 years. What is the amount of amortization that should be recorded at the end of the current fiscal year. 13. Abelard Company expects to extract 15M tons of coal from a mine that cost $25M. If no salvage value is expected, and 3,000,000 tons are mined in the first year, how much depletion expense should be recorded? 14. On May 1, 2021, Bentham Company sells office furniture for $60,000 cash. The office furniture originally cost $150,000 when purchased on January 1, 2013. Depreciation is recorded by the straight line method over 10 years with a salvage value of $15,000. a. What depreciation expense should be recorded on this asset in 20217 b. Should a gain or a loss be recorded on the sale? If so how much? C. Prepare the journal entry for the sale of the furniture