BATAM Unit 2, Activity 6 Assignment Intangible Assets Create your own spreadsheet file to show the calculations for all of the following. It would be best if you used a different sheet/tab for each question, but only one document. ***USE FORMULAS whenever possible. 1. Calculate depletion for a natural resource. Miyasawa Mining Company On Feb. 1, 2015. Miyasawa Mining Company purchased a mine for $80 million that is estimated have 250 000 tonnes of ore and a residual value of $3 million. The cost of restoration at the end of the useful life is estimated at $8 million. In 2015, 30 000 tonnes of ore were extracted. a) Calculate the amount of depletion that should be recorded on December 31, 2015. b) Calculate the amount of the restoration liability. c) Show the journal entry for December 31, 2015. 2. Journal entries for intangible assets. Doucette Company, established in 2002, has the following transactions related to intangible assets: Jan 2 Purchased a patent (7-year life) for $420,000. Apr 1 Goodwill purchased (indefinite life) for $360,000. July 1 A 10-year franchise which expires on July 1, 2012 is purchased for $450,000. Sept 1 Research costs of $185,000 are incurred which are not related to a specific product. Dec 31 Adjusting entries for intangible assets as of this date