Questions 1 & 2

1. Identify the following assets :1 through i as reported on the balance sheet as intangible assets (IA), natural resources (NR), or plant asset (PA). a) Oil well b) _ Trademark c) _ Leasehold d) _ Gold mine e) _ Building f) _ Ceprright g) _ Franchise h) _ Timberland i) _ Salt mine j) _ Machinery 2. In early January 2017, NewTech purchases computer equipment for $154,000 to use in operating activities for the next four years. It estimates the equipment's salvage value at $25,000. Prepare a table showing depreciation and book value for each of the four years assuming straight-line depreciation