The following are the transactions of Morrell Corporation: a. Morrell Corporation disposed of two computers at the end of their useful lives. The computers had cost $4,480 and their Accumulated Depreciation was $4,480. No residual value was received. b. Assume the same information as (a), except that Accumulated Depreciation, updated to the date of disposal, was $2,960. Prepare journal entries to record above transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet Record the disposal of computers that had cost $4,480 and their accumulated depreciation to the date of disposal was $4,480. Note: Enter debits before credits. Transaction General Journal/ Debit Credit e Drev 203 m 2 of 3 !!! + a 99. Ta Next > Next > o 3 | to search Check Bluestone Company had three intangible assets at the end of the current year a. A patent purchased this year from Miller Co. on January 1 for a cash cost of $8,400. When purchased the patent had an estimated life of 14 years. b. A trademark was registered with the federal government for $7,000. Management estimated that the trademark could be worth as much as $180,000 because it has an indefinite life. c Computer licensing rights were purchased this year on January 1 for $52,000. The rights are expected to have a four-year useful life to the company. Required: 1. Compute the acquisition cost of each intangible asset. 2. Compute the amortization of each intangible for the current year ended December 31 3. Show how these assets and any related expenses should be reported on the balance sheet and income statement for the current year. Complete this question by entering your answers in the tabs below Reg 1 Reg 2 Req 3A Reg 3B Compute the acquisition cost of each intangible asset.