please show work

1 012 During the current year ending on December 31, 8SP Company completed the following transactions: a. On January purchased a patent for $39,600 cash (estimated useful life, nine years) b. On January 1, purchased the assets (not detailed) of another business for $146,000 cash, including $9,000 for goodwill The company assumed no liabilities. Goodwill has an indefinite life. c. On December 31, constructed a storage shed on fand leased from D. Heald. The cost was $32,600 The company uses straight-line depreciation. The lease will expire in six years. (Amounts spent to enhance leased property are capitalized as intangible assets called Leasehold Improvements) d. Total expenditures for ordinary repairs and maintenance were $5,100 during the current year. e On December 31 of the current year, sold Machine A for $2,800 cash Original cost was $24.000; accumulated depreciation to December 31 of the prior year was $15.360 (on a straight line basis with a $4.800 residual value and five- year useful site). Record the depreciation expense in transaction et and the sale in transaction (2) On December 31 of the current year, paid $5.300 for a complete reconditioning of Machines acquired on January 1 of the prior year Original cost $36,100; accumulated depreciation to December 3t of the prior year was $2.300 (on a straight line basis with a $8,500 residual value and 12 year useful Required: 1. For each of these transactions, indicate the accounts, amounts, and effects (e for increase and for decrease) on the accounting equation Answer is not complete Assets Date on 1 ochorety Ca 8000 39.000) hi 1 Asset De Cash 60 137.000 9.000 001 3200 Det C w C Merce 100 (Doc at De 2 Cah Det Ove 3.000 100 OM 1200 5300 0.1001 OOOOOO 11 Machine Gaan 2 Part 2 of 2 10 Doints Required information [The following information applies to the questions displayed below) During the current year ending on December 31, BSP Company completed the following transactions: a. On January 1, purchased a patent for $39,600 cash (estimated useful life, nine years) b. On January 1, purchased the assets (not detailed) of another business for $146,000 cash, including $9,000 for goodwill, The company assumed no liabilities. Goodwill has an indefinite life c. On December 31, constructed a storage shed on land leased from D. Heald. The cost was $32,600. The company uses straight line depreciation. The lease will expire in six years. (Amounts spent to enhance teased property are capitalized as Intangible assets called Leasehold Improvements) d. Total expenditures for ordinary repairs and maintenance were $5,100 during the current year. e On December 31 of the current year, sold Machine A for $7800 cash Original cost was $24,000; accumulated depreciation to December 31 of the prior year was $15,360 (on a straight line basis with a $4,800 residual value and five- year useful life). Record the depreciation expense in transaction e(t) and the sale in transaction e(2) On December 31 of the current year, pold $5,300 for a complete reconditioning of Machine B acquired on January 1 of the prior year. Original cost $36,100; accumulated depreciation to December 31 of the prior year was $2,300 (one straight-line basis with a $8.500 residual value and 12-year useful life) eBook Point References 2. For each of these assets, compute depreciation and amortization to be recorded on December 31 at the end of the current year Patent Goodwill Leasehold improvements d Ordinary repairs and maintenance Machine A Machine