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please help! Data related to the acquisition of timber rights and intingible assets during the current year anded Deceinoer 31 are as follows: a. Timber

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Data related to the acquisition of timber rights and intingible assets during the current year anded Deceinoer 31 are as follows: a. Timber rights on a tract of land were purchased for $1,406,160 on February 22 . The stand of timber is ectimatod at 5,859,000 board teot. During the current year, 1,145,800 board feet of timber were cut and fold. b. On December 31, the company determined that $3,522,000 of pootwil was impairod c. Governmental and legal costs of \$7,194,000 were incurred on April 3 in obtaining a fident with an estimuted economic the of 10 years. Amortitation is to be for three-fourths of a year Required: 1. Defermine the amount of the amortization, depletion or imouiment for the cumrent year for each of the foregoing thams. 2. foumalire the adfusting entries required to recoud the amortization, dophition or impaikment for oach ilem, Chart of Accounts General Ledger ASSETS REVENUE 110 Cash 410 Sales 111 Potty Cash 610 Interest Revenue 112 Accounts Recelvable 620 Gain on Sale of Vehicles 114 Interest Recelvable 621 Gain on Sale of Equipment 115 Notes Receivable 622 Gain on Sale of Timber Rights 116 Merchandise Inventory 623 Gain from Sale of Goodwil 117 Supplies 119 Propaid Insurance EXPENSES 120 Land 510 Cost of Merchandise Sold 123 Vehicles 520 Salaries Expense 124 Accumulated Dopreciation-Vohicles 521 Advertsing Expenso 125 Equipment 522 Depreciation Expense-Vehicles 126 Accumulated Depreciafion-Equipment 523 Delivery Expense 130 Timber Rights 524 Ropairs and Maintenance Expenso 131 Accumulated Depletion 529 Selling Expenses 132 Goodwill 531 Rent Expense 133 Patents 532 Depreciation Expense-Equipment 533 Depletion Expense LIABIUTIES 534 Amortization Expense Pafents 210 Accounts Payable 535 Insurance Expenso 211 Salarios Payable 536 Supplies Expense 213 Sales Tax Payable 539 Miscellaneous Expenge 214 Intorest Payable 710 Interest Expense 215 Notes Payable 720 Loss on Sale of Vahiclos 721 Inse no Salta of Enuinment Chart of Accounts 115 Notes Receivable 622 Gain on Sale of Timber Rights 116 Merchandise Inventory 623 Gain from Sale of Goodwill 117 Supplies 119 Prepaid Insurance EXPENSES 120 Land 510 Cost of Merchandise Sold 123 Vehicles 520 Salaries Expense 124 Accumulated Depreciation-Vehicles 521 Advertising Expense 125 Equipment 522 Depreciation Expense-Vehicles 126 Accumulated Depreciation-Equipment 523 Dellvery Expense 130 Timber Rights 524 Repairs and Maintenance Expense 131 Accumulated Depletion 529 Selling Expenses 132 Goodwill 531 Rent Expense 133 Patents 532 Depreciation Expense-Equipment 533 Depletion Expense LIABILITIES 534 Amortization Expense-Patents 210 Accounts Payable 535 Insurance Expense 211 Salaries Payable 536 Supplies Expense 213 Sales Tax Payable 539 Miscellaneous Expense 214 Interest Payable 710 Interest Expense 215 Notes Payable 720 Loss on Sale of Vehicles 721 Loss on Sale of Equipment EQUITY 722 Loss on Sale of Timber Rights 310 Common Stock 723 Loss from Impaired Goodwil 311 Retained Earnings 312 Dividends 1. Determine the amount of the amortization, depletion, or impaiment for the current year for each of the items in the instructions. a. b. c. Senevaldevinat instrictona sold b. On Oecwnber 31, the compury dedermined that 53,522000 d goodhit was impoind. b. On Decomber 31, the company deiemined that 33,522,000 of goodeill was inpaired

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