please help. (Intermediate Accounting).

Question Three On June 30th, 2016, Hallwell Publishing purchased a copyright from Apple Recordings for $400,000. At the time the copyright was purchased, Hallwell Publishing assumed it had 80 years of remaining useful life. Record the following entries related to Hallwell's acquisition of this copyright from Apple Recordings. Part One Record the journal entry for Hallwell's June 30th, 2016 acquisition of the copyright from Apple Recordings. Assume that Hallwell paid cash to acquire this intangible asset. 5 30-Jun 6 7 8 Part Two Record Hallwell's December 31st, 2016 journal entry to account for amortization accumulated on the copyright in the partial year since it was acquired from Apple Recordings. Assume that Hallwell will use the straight-line method to amortize this copyright and that the 9 company uses an accumulated amortization account. 10 Historical cost 11 Divide by: useful life 12 Annual amortization 13 Times: year amortized 14 Accumulated amortization 15 16 17 18 Part Three Patent Goodwill Amortization Revision Ready E B D 18 Part Three Record Hallwell's December 31st, 2017 journal entry to account for the amortization 19 accumulated on this intangible asset during the 2017 fiscal year. 20 Historical cost 21 Divide by: useful life 22 Annual amortization 23 Times: year amortized 24 Accumulated amortization 25 26 27 28 Part Four On January 1st, 2018, Hallwell revised its estimate on the useful life of the copyright. Hallwell believes that the patent will only be useful until January 1st, 2068 (in other words, it has 50 years of remaining life from the day the estimate is revised.) Recalculate the annual amortization expense and then record Hallwell's December 31st, 2018 adjusting entry to 29 recognize amortization on the copyright during the 2018 fiscal year. 30 Historical cost 31 Less: accumulated amortization 32 Book value at time of revision 33 Divde by: revised remaining useful life 34 New annual amortization expense 35 36 37 38 Patent Goodwill Dart Elva (Rannel Amortization Revision Ready A B C D On January 1st, 2018, Hallwell revised its estimate on the useful life of the copyright. Hallwell believes that the patent will only be useful until January 1st, 2068 (in other words, it has 50 years of remaining life from the day the estimate is revised.) Recalculate the annual amortization expense and then record Hallwell's December 31st, 2018 adjusting entry to 9 recognize amortization on the copyright during the 2018 fiscal year. 0 Historical cost 1 Less: accumulated amortization 2 Book value at time of revision 3 Divde by: revised remaining useful life 4 New annual amortization expense 5 6 7 8 Part Five (Bonus) On January 1st, 2019, Hallwell loses a lawsuit against another music publisher for copyright infringement. Subsequently, the coyright that Hallwell purchased from Apple Recordings has become worthless. Record the January 1st, 2019 journal entry which declares an impairment less on the remaining unamortized portion of this copyright and removes the copyright and 2 it's accumulated amortization account from Hallwell's books. 1 3 4 Patent Goodwill Amortization Revision eady