Question: please for the first pic only do the secound part Blossom Inc., reported the following information about two of its machines as at December 31,


Blossom Inc., reported the following information about two of its machines as at December 31, 2019. Cost Machine #1 Date Acquired Jan 1, 2011 Jan 1, 2019 Residual Value $39,600 $4,970 Useful Life (in years) 20 5 $757.100 $130,040 #2 (a) Your answer is correct. Calculate the annual depreciation for each asset using the straight-line method. $ Machine 1 35875 $ Machine 2 25014 e Textbook and Media Attempts: 1 of 3 used (b) X Your answer is incorrect Calculate the accumulated depreciation and carrying amount of each asset on December 31, 2020 Machine 2 Machine 1 287000 25014 Accumulated depreciation Carrying amount 470100 94986 View Policies Current Attempt in Progress Pharoah Corporation has the following selected transactions during the year ended December 31, 2021: Purchased a copyright for $128,160 cash. The copyright has a useful life of six years and a remaining legal life of 30 years. Acquired a franchise with a contract period of nine years for $548,910, the expiration date is March 1, 2030. Paid cash of $41,980 and borrowed the remainder from the bank. Sept. Purchased a trademark for $74,360 cash. As the purchase was being finalized, spent $36,630 cash in legal fees to successfully defend the trademark in court. Jan 1 Mar. 1 1 (a) Prepare the entries to record the above transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not incient manually. If no entry is required, select "No Entry for the account titles and enter for the amounts Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record purchase of trademark) (To record costs incurred to defend trademark) e Textbook and Media List of Accounts
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