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The folowing information applies to the questions displayed below. During the current year ending on December 31, BSP Company completed the following transactions a. On
The folowing information applies to the questions displayed below. During the current year ending on December 31, BSP Company completed the following transactions a. On January 1, purchased a patent for $29,000 cash (estimated useful life, five years) 31, shed on land from D. Heald. The cost was $15,600. The company uses straight-line depreciation. The leese will expire in ten years (Amounts d. Total e. On ine) to December 31 of the prior year was $14, 800 (on a 31 of the current yeat, sold Machine A for $6700 cash B acquired on January 1 of the prior yeat Original cost $37900: accumulated depreciation to 31 of the prior year wes $2,800(ona straight-ine basis with a $7300 residual velue and 11-year useful ife) 9.09 points 2. For each of these assets, compute depreciation and amortization to be recorded at the end of the year on December 31 of the current year e year on December 31,of the current year a. Patent d. Ordinary re e. Machine A f. Machine B
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