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. January 2,2015 Paid $87,000 cash to purchase storage shed components.
January 3;2015 Paid $3,000 cash to have the storage shed erected. The storage shed has an estimated life of 10 years and a residual value of $6,000.
April 1,2015 Paid $39,000 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 $4,000.
May 13,2015 Paid $400 cash for repairs to the pickup truck.
July 1,2015 Paid $28,000 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 31,2015 Recorded depreciation and amortization on the pickup truck, storage shed, and patent.
June 30,2016 Sold the pickup truck for $33,000 cash. (Record the depreciation on the truck prior to recording its disposal.)
December 31,2016 Recorded depreciation on the storage shed. 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.)

Gravure Graphics International

General Journal:

Jan 2, 2015:

Debit  Storage Shed $87,000

Credit Cash Account $87,000

To record the purchase of storage shed components.

Jan 3, 2015:

Debit Storage Shed $3,000

Credit Cash Account $3,000

To record the payment for shed erection.

April 1, 2015:

Debit Pickup Truck $39,000

Credit Cash Account $39,000

To record the purchase of a pickup Truck

May 13, 2015:

Debit Truck Repair Expense $400

Credit Cash Account $400

To record the payment for repairs.

July 1, 2015:

Debit Patent Rights $28,000

Credit Cash Account $28,000

To record the purchase of patent rights.

Dec. 31, 2015:

Debit Depreciation Expense - Storage Shed $8,400

Credit Accumulated Depreciation - Storage Shed $8,400

To record the depreciation expense for the year.

Debit Depreciation Expense - Pickup Truck $5,250

Credit Accumulated Depreciation - Pickup Truck $5,250

To record the depreciation expense for the 9 months.

Debit Impairment Expense - Patent Rights $2,800

Credit Accumulated Impairment- Patent Rights $2,800

To record the impairment expense for the 6 months.

June 30, 2106:

Debit Depreciation Expense- Pickup Truck $3,500

Credit Accumulated Depreciation- Pickup Truck $3,500

To record depreciation expense for the half year.

Debit Accumulated Depreciation - Pickup Truck $8,750

Credit Sale of Truck $8,750

To transfer the balance to Sale of Truck.

Debit Sale of Truck $39,000

Credit Pickup Truck $39,000

To record the transfer to Sale of Truck.

Debit Cash Account $33,000

Credit Sale of Truck $33,000

To record the sale of the pickup truck for cash.

Dec. 31, 2016

Debit Sale of Truck $2,750

Credit Gain on Sale of Truck $2,750

To record the gain on sale of truck.

Debit Depreciation Expense - Storage Shed $8,400

Credit Accumulated Depreciation - Storage Shed $8,400

To record the depreciation expense for the year.

Debit Impairment Expense - Patent Rights $25,200

Credit Accumulated Impairment- Patent Rights $25,200

To write down the book value to zero.

Explanation:

a) Depreciation / Impairment Expenses:

1) Storage Shed = $8,400 ($87,000 + 3,000 - 6,000) / 10

2) Pickup Truck = $7,000 ($39,000 - 4,000) / 5

for 2015 = $5,250 ($7,000 x 9/12)

3) Patent Rights = $5,600 ($28,000/5)

for 2015 = $5,600 /2 = $2,800

4) Truck for 2016: $7,000/2 = $3,500

5) Depreciation is an accounting method for expensing the cost of a fixed asset over its useful life.  It is based on estimate and there are many methods for estimating the depreciation expense for the various fixed assets.

6) Impairment is like depreciation as a method for expensing cost of an asset.  The difference is that while depreciation is used for tangible non-current assets, impairment is for intangible non-current assets.  Another difference is that impairment is determined at the end of the period when the asset is checked for impairment based on fair value.

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%

among other factors, composers started writing dynamic markings in their scores because "new instruments allowed for more dynamic ranges and contrast."

dynamics allude to the loudness or softness of music. dynamics offer an approach to demonstrate articulation in sheet music. they to drive the enthusiastic substance of music through volume and force. maybe you could alter both the volume and the shading profundity on your screen at the same time. we can likewise think about the force side of elements as the quality of a note. a few notes are intended to be played delicately and gently, while others are intended to be played all the more firmly.  

some dynamics markings have a letter 'm,' which remains for mezzo, signifying 'medium.' so a mezzo piano unique stamping resembles this (mp) and intends to play medium calm, while a mezzo specialty dynamic resembles this (mf) and intends to play medium loud.