The following transactions and adjusting entries were completed by a paper-packaging company called Gravure Graphics International during 2018 and 2019. The company uses straight-line depreciation for trucks and other vehicles, double-declining-balance depreciation for buildings, and straight-line amortization for patents. (I JUST NEED HELP WITH #10,11,12 PLEASE...Been stuck for over a hour!!)

2018
January		2		Paid $90,000 cash to purchase storage shed components.
January		3		Paid $5,000 cash to have the storage shed erected. The storage shed has an estimated life of 10 years and a residual value of $8,000.
April		1		Paid $33,000 cash to purchase a pickup truck for use in the business. The truck has an estimated useful life of five years and a residual value of $6,000.
May		13		Paid $100 cash for minor repairs to the pickup truck's upholstery.
July		1		Paid $25,000 cash to purchase patent rights on a new paper bag manufacturing process. The patent is estimated to have a remaining useful life of five years.
December		31		Recorded depreciation and amortization on the pickup truck, storage shed, and patent.
2019
June		30		Sold the pickup truck for $28,000 cash. (Record the depreciation on the truck prior to recording its disposal.)
December		31		Recorded depreciation on the storage shed. Also determined that the patent was impaired and wrote off its remaining book value (i.e., wrote down the book value to zero).

Required:

Prepare the journal entries required on each of the above dates. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.)

The following transactions and adjusting entries were completed by a paper-packaging company called Gravure Graphics Internation during 2018 and 2019. The company uses straight-line depreciation for trucks and other vehicles, double-declining-balance depreciation for buildings, and straight-line amortization for patents. 2018 January 2 Paid $90,000 cash to purchase storage shed components. January 3 Paid $5,000 cash to have the storage shed erected. The storage shed has an estimated life of 10 years and a residual value of $8,000. April 1 Paid $33,000 cash to purchase a pickup truck for use in the business. The truck has an estimated useful life of five years and a residual value of $6,000. May 13 Paid $100 cash for minor repairs to the pickup truck's upholstery. July 1 Paid $25,000 cash to purchase patent rights on a new paper bag manufacturing process. The patent is estimated to have remaining useful life of five years. December 31 Recorded depreciation and amortization on the pickup truck, storage shed, and patent. 2019 June 30 Sold the pickup truck for $28,000 cash. (Record the depreciation on the truck prior to recording its disposal.) December 31 Recorded depreciation on the storage shed. Also determined that the patent was impaired and wrote off its remaining book value (i.e., wrote down the book value to zero). Required: Prepare the journal entries required on each of the above dates. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) Journal entry worksheet KO ..... O O O O O 10 @ @ > Record the Patent Amortization expense for the full year. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2019 Amortization Expense Accumulated Amortization Record entry Clear entry View general journal Journal entry worksheet KO ..... O O O O O O 11 @ > Record the reversal of the accumulated amortization of patents. Note: Enter debits before credits. Date General Journal Debit Credit December 31, 2019 Amortization Expense Accumulated Amortization Record entry Clear entry View general journal Journal entry worksheet Record any impairment loss incurred on the patent. Note: Enter debits before credits. Date General Journal Credit Debit 22,500 December 31, 2019 Impairment Loss Patent 22,500 Record entry Clear entry View general journal Answer is not complete. No General Journal Credit Date January 02, 2018 Building Cash Debit 90,000 90,000 2 5,000 January 03, 2018 Building Cash 5,000 April 01, 2018 33,000 Equipment Cash 33,000 4 May 13, 2018 100 Repairs and Maintenance Expense Cash 100 5 July 01, 2018 25,000 Patent Cash 25,000 6 23,050 2,500 December 31, 201 Depreciation Expense Amortization Expense Accumulated Depreciation-Buildings Accumulated Depreciation Equipment Accumulated Amortization 19,000 4,050 2,500 June 30, 2019 2,700 Depreciation Expense Accumulated Depreciation-Equipment 2,700 8 June 30, 2019 28,000 6,750 Cash Accumulated Depreciation-Equipment Equipment Gain on Disposal 33,000 1,750 9 15,200 December 31, 201 Depreciation Expense Accumulated Depreciation-Buildings 15,200 10 December 31, 201 Amortization Expense Accumulated Amortization 11 December 31, 201 Amortization Expense Accumulated Amortization 12 22,500 X December 31, 201 Impairment Loss Patent 22,500