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Accounts Starting question Journal Instructions e Kleon Company acquired patent nights on January 10 of Year 1 for $887,400. The patent has a useful le equal to its legal life of eight years. On defended the patient in a lawsuit at a cost of $42.000 Required: a. Determine the patent amortization expense for Year-ended December 31 b. Journaltre the adjusting entry on December 31 of Year 4 to recognize the amorturation Refer to the Chart of Accounts for exact word account titles SHOW ME HOW Calculator Faxed asset turnover ratio Select financial statement data for two recent years for Davenport Company are as follows: 2014 2015 $1,836,000 Sales $907,500 Fixed assets: 560,000 Beginning of year End of year 650,000 710,000 650,000 a. Determine the fixed asset turnover ratio for 2014 and 2015. Round to one decimal place. 2045 2014 Fixed Asset Turnover Ratio b. Does the change in the fixed asset turnover ratio from 2014 to 2045 indicate a favorable or an be change? Calculator Capital and Revenue Expenditures Warner Freight lines Co. Incurred the following costs related to trucks and vans used in operating its delivery service: Classily each of the costs as a capital expenditure or a revenue expenditure. Cost 1. Changed the oil and greased the joints of all the trucks and vans 2. Changed the radiator fluid on a truck that had been in service for the past four years 3. Installed a hydraulic lift to a van. 4. Installed security systems on four of the newer trucks. 5. Overhauled the engine on one of the trucks purchased three years ago 6. Rebuilt the transmission on one of the vans that had been driven 40,000 miles. The van was no longer under warranty. 7. Removed a two-way radio from one of the trucks and installed a new radio with a greater range of communication 8. Repaired a flat tire on one of the vans. 9. Replaced a truck's suspension system with a new suspension system that allows for the delivery of heavier loads. 10. Tinted the back and side windows of one of the vans to discourage theft of contents. eck My Work 5 more Check My Work uses remaining Previous Next Depreciation by Three Methods: Portal Years Pere Company woment on April 1 $57,510. The equipment was expected to have a useful life of three years, or 6,660 value of $1.620. The moment was for 900 hours during Year 1, 1,700 hours in Year 2, 1,500 hours in Year 3, and 760 hours inter Required Determine th e se for the years ended December 31, Year 1 Year 2 Year 3, and Year 4, by (a) the str . h e - nce method NE FOR DECLININGSANO ONE und the multiplier to four decimal places. Then round the answer for each year to the nearest t Strand Year Year 2 Year b. Units-of-activity method Amount Year Year 1 Year 2 Year 3 Year 4 c. Double-declining-balance method Year Amount Year 1 Year 2 Year 3 Year 4