Capital Asset Question Using examples, show the difference between a tangible asset and Using intangible asset. Explain copyright and goodwill IBM Ltd purchased a machine on June 31,2010 for $85000 cash.lt had an estimated useful life of 8 years and a salvage value of $20000.on January 31, 2015 the machine was disposed of. The company's year- end is Dec 31 and the depreciation is done using straight line method. REQUIRED: calculate the depreciation of 2010 and 2011. Dragon corporation purchased a truck which cost $25000 and it has a five year useful life. The company believes that the truck will have a salvage value of $5000. The purchase was done on May 1, 2013. Required The asset is depreciated at a double declining method. Show the schedule of depreciation of this asset. Journalize the depreciation in the first and third year Give an extract of the balance sheet of year 2014. What is a contra account and what is its purpose