Question: Please help me answer the following journal entry worksheet. Please answer in the general format. Thank you! Journal entry worksheet 1 4. 6 Record the












Journal entry worksheet 1 4. 6 Record the purchase of a pickup truck for $50,000. Noke: Enter debits befort credits: Inurnal entry wnrksheet Journal entry worksheet Record the payment of $2,000 to have the storage shed erected. Note: Enter debits before credits. Inurnal entrut worksheet Note: Enter aebits before croults: Journal entry worksheet (1) (2) 3. (4) Record the depreciation and amortization expense on the pickup truck, storage shed and patent for the year. Note: Enter debits before credits: Journal entrv worksheet Note: Enter Uebits thefure ctudits. Journal entry worksheet The following transactions and adjusting entrles were completed by a paper-packaging company called Gravure Graphics International. The company uses straight-iline depreciation for trucks and other vehicles, double-decining-balance depreciation for buildings, and stralght-line amortization for patents. January 2, 2020 Paid $104,030 cash to purchase-storage shed conponents. flve years and a residual value of 33,000 . This vehicle is to be- fecorded in the Truck account. Nay 13, 2020 pald \$8ee cash for minor repairs to the plekup truck"s upholstery. have a revalning useful ilfe of five years. Decenber 11, 2020. Recorded depreciation endianortization on the pickup sruck, storage shed, and patent. anortization, deternined that the patent was ispaired and wrote off its renaining book value (Iise. 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 transactionjevent, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) Journal entry worksheet (1) 2 (8) (4) (a). 12 Record the depreciation and amortization expense on the pichup truck, storage shed and patent for the vear. Journal entrv worksheet Journal entry worksheet (1) (2) 3 (6) 7 Record the purchase of a patent for $11,000 on a new paper bag manufacturing process. Note: Enter debits before credits. Journal entry worksheet Record the depreciation for the truck up to the date of sale. Note: Enter debits before credits. Iournal entrv worksheet Note: Enter debits beifore crudits Journal entry worksheet Record the purchase of storage shed components for $104,000. Note: Enticr debats before credits
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
