PAS.0 11.2 Jada Company had the following transactions during the year: Purchased a machine for $500,000 using a long-term note to finance it Paid $500 for ordinary repair Purchased a patent for $45,000 cash Paid $200,000 cash for addition to an existing building Paid $60,000 for monthly salaries Paid $250 for routine maintenance on equipment Paid $10,000 for major repairs Depreciation expense recorded for the year is $25,000 If all transactions were recorded properly, what is the amount of increase to the Property, Plant, and Equipment section of Jada's balance sheet resulting from this year's transactions? What amount did Jada report on the income statement for expenses for the year? PA9. DO 11.4 For each of the following unrelated situations, calculate the annual amortization expense and prepare a journal entry to record the expense: A. A patent with a ten-year remaining legal life was purchased for $300,000. The patent will be usable for another eight years. B. A patent was acquired on a new smartphone. The cost of the patent itself was only $24,000, but the market value of the patent is $600,000. The company expects to be able to use this patent for all twenty years of its life. PAS Increase in PP&E Income Statement Expenses PA9 GENERAL JOURNAL PAGE POST REF DATE DESCRIPTION DEBIT CREDIT 1 20xx A. 2 2 3 3 4 4 S 5 B. 6 7 17