QS 8-15 (Algo) Intangible assets and amortization LO P4 On January 1 of this year. Diaz Boutique pays $205,000 to modernize its store. Improvements include new floors, ceilings, wiring, and wall coverings. These Improvements are estimated to yield benefits for 10 years. Diaz leases (does not own) its store and has 8 years remaining on the lease 1. & 2. Prepare the journal entry to record the cost of modernization and amortization at the end of this current year. View transaction list Journal entry worksheet 2 Record the cost of modernization of the store for $205.000 cash. Note Enterre Date General Journal Debit Credit January 01 Record entry Clear entry View general journal QS 8-15 (Algo) Intangible assets and amortization LO P4 On January 1 of this year , Diaz Boutique pays $205,000 to modernize its store. Improvements include new floors, cellings, wiring, and wall coverings. These improvements are estimated to yield benefits for 10 years Dlaz leases (does not own) its store and has 8 years remaining on the lease 1. & 2. Prepare the journal entry to record the cost of modernization and amortization at the end of this current year View transaction list Journal entry worksheet Perez Company acquires an ore mine at a cost of $3.500.000. It incurs additional costs of $980,000 to access the mine, which is estimated to hold 2.500.000 tons of ore. 255.000 tons of ore are mined and sold the first year. The estimated value of the land after the ore is removed is $500,000. Calculate the depletion expense from the information given. 1.& 2 Prepare the entry to record the cost of the ore mine and year-end adjusting entry. Complete this question by entering your answers in the tabs below. Depletion Expense General Journal Prepare the entry to record the cost of the ore mine and year-end adjusting entry View transaction list Journal entry worksheet A B Record the cost of the ore mine in cash. Noel Este des bereits Transaction General Journal Debit Credit Record entry Clearly View general journal