$$The following information applies to the questions displayed below.$$ On January $1,2024,$ ?the Allegheny Corporation purchased equipment for $$150,000.$ ?The estimated service life of the equipment is $10$ ?years and the estimated residual value is $$7,000.$ ?The equipment is expected to produce $360,000$ ?units during its life.

Required: Calculate depreciation for $2024$ ?and $2025$ ?using each of the following methods.

Exercise $11-2($Algo$)$ ?Part $3$$3.$ ?Units of production $($units produced in $2024,40,000$; units produced in $2025,35,000).$ Note: Round "Depreciation per unit rate" answers to $2$ ?decimal places.Exercise $11-19($Algo$)$ ?Amortization $[$L$011-4,11-5]$ Janes Company provided the following information on intangible assets: a$.$ ?A patent was purchased from the Lou Company for $$1,500,000$ ?on January $1,2022.$ ?Janes estimated the remaining useful life of the patent to be $10$ ?years. The patent was carried on Lou's accounting records at a net book value of $$510,000$ ?when Lou sold it to Janes.

b$.$ ?During $2024,$ ?a franchise was purchased from the Rink Company for $$660,000.$ ?The contractual life of the franchise is $10$ ?years and Janes records a full year of amortization in the year of purchase.

c$.$ ?Janes incurred research and development costs in $2024$ ?as follows: d$.$ ?Effective January $1,2024,$ ?based on new events that have occurred, Janes estimates that the remaining life of the patent purchased from Lou is only five more years.

Required: Prepare the entries necessary for years $2022$ ?through $2024$ ?to reflect the above information.

Prepare a schedule showing the intangible asset section of Janes's December $31,2024,$ ?balance sheet.

Complete this question by entering your answers in the tabs below.

Required $1$ Prepare the entries necessary for years $2022$ ?through $2024$ ?to reflect the above information.

Note: If no entry is required for a transaction$/$event$,$ ?select $"$No journal entry required" in the first account field.

1.25 5 Exercise 11-19 (Algo) Amortization [LO11-4, 11-5] Janes Company provided the following information on intangible assets: points eBook Hint Print References a. A patent was purchased from the Lou Company for $1,500,000 on January 1, 2022. Janes estimated the remaining useful life of the patent to be 10 years. The patent was carried on Lou's accounting records at a net book value of $510,000 when Lou sold it to Janes. b. During 2024, a franchise was purchased from the Rink Company for $660,000. The contractual life of the franchise is 10 years and Janes records a full year of amortization in the year of purchase. c. Janes incurred research and development costs in 2024 as follows: Materials and supplies Personnel Indirect costs Total $ 156,000 196,000 76,000 $ 428,000 d. Effective January 1, 2024, based on new events that have occurred, Janes estimates that the remaining life of the patent purchased from Lou is only five more years. Required: 1. Prepare the entries necessary for years 2022 through 2024 to reflect the above information. 2. Prepare a schedule showing the intangible asset section of Janes's December 31, 2024, balance sheet. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the entries necessary for years 2022 through 2024 to reflect the above information. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list