Problem 8. Identify the balance sheet classification of each of the following assets by placing an X in the correct classification: Plant Assets, Natural Resources, or Intangibles. Natural Intangible Plant assets Resources Assets a. Trademark b.Oil field c. Gold mine d.Building e.Franchise f. Timberland g.Patent h. Land i.Copyright lj. Leasehold Problem 2: On April 1 of the current year, a company purchased and placed in service a machine with a cost of $240,000. The company estimated the machine's useful life to be four years or 60,000 units of output with an estimated salvage value of $60,000. During the current year, 12,000 units were produced. Prepare the necessary December 31 adjusting journal entry to record depreciation for the current year assuming the company uses: a. The straight-line method of depreciation b. The units-of-production method of depreciation c. The double-declining balance method of depreciation