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two questiins . first question is picture one . second question is licture 2 and 3.( couldnt fit it in one picture )
Brief Exercise 9-09 Sheridan Company purchases a patent for $153,700 on January 2, 2022. Its estimated useful life is 10 year
Exercise 9-05 Crane Company purchased a new machine on October 1, 2022, at a cost of $90,080. The company estimated that the
is a salvage value of $8,560. The machine is expected to be used for 71,400 working hours during its 8-year life. d answers t
business   accounting   
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Answer #1

9-.09)

a) Journal entry

account title and explanation Debit Credit
Amortization expense (153700/10) 15370
Patent 15370

b) Balance sheet presentation

Intangible assets
Patent (153700-15370) 138330

9-05

2022 2023
The depreciation expense under straight line method (90080-8560/8*3/12) = 2547.50 10190
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