Time 0066 The Rodowing information applies to the questions displayed below) During the current year ending on December 31, OSP Company completed the following transactions On January 1, purchased a patent for $28,000 cash imated usif, seven years On January purchased the assets not delody of another business for $14.000 cash, duding $10,000 for goodwit. The company tuned notes Goodwill has an inde c. On December 31,constructed a storage shed on landed from D. Head. The cost was $15.000. The company se strane ne depreciation. The lense wil ee in three years. Aorts set to enhance and property are capitalized as intangible assets called Leasehold improvements.) d. Total expenditures for ordinary repairs and maintenance were $5,500 during the current yea c. On December to the current you told Machine A for $6,000 cash. Orain.com ww $25.000 ccmited rection to Decenter of the prior yew wm $14.000 fonte root robes 50.000 and five year useful if you should record the effects of two separate tractions for this event On December to me corrente, peld $5.000 for a complot reconditioning of Machine acquired on January of the prior vor Original cout $34000. accumulated depreciation to become of the year was so on a straight lines with a $7000 residus value and years Required: 1. For each of these transactions, indicate the accounts, amounts and effects (+ for increase and for decrease) on the accounting equation Date Assets Liabilities Stockholders' Equity . Jan 1 b Jan 1 c Dec 31 d 2015 0/1) 00031 (2) Dec 31 Dec 31 8. volo 10.00 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. a. Patent b. Goodwill c. Leasehold improvements d. Ordinary repairs and maintenance e. Machine A 1. Machine B Reference un