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 $86,000 cash to purchase storage shed components.
January 3, 2015 Paid $2,000 cash to have the storage shed erected. The storage
shed has an estimated life of 10 years and a residual value of
$5,000.
April 1, 2015 Paid $40,000 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 $3,000.
May 13, 2015 Paid $500 cash for repairs to the pickup truck.
July 1, 2015 Paid $29,000 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 $34,000 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).
Record the journal entries for the following:
1. Record the purchase of storage shed components for $86,000.
2. Record the payment of $2,000 to have the storage shed erected
3. Record the purchase of a pickup truck for $40,000.
4. Record the repairs of $500 to the pickup truck.
5. Record the purchase of a patent for $29,000 on a new paper bag manufacturing process
6. Record the depreciation and amortization expense on the pickup truck, storage shed and patent for the year
7. Record the depreciation for the truck up to the date of sale.
8. Record the sale of the pickup truck for $34,000 cash.
9. Record the depreciation on the storage shed for the year.
10. Record any impairment loss incurred on the patent.

Net income and owner's equity for four businesses four different proprietorships, jupiter, mars, saturn, and venus, show the same balance sheet data at the beginning and end of a year. these data, exclusive of the amount of owner's equity, are summarized as follows: total assets total liabilities beginning of the year $550,000 $215,000 end of the year 844,000 320,000 on the basis of the preceding data and the following additional information for the year, determine the net income (or loss) of each company for the year. (hint: first determine the amount of increase or decrease in owner's equity during the year.) jupiter: the owner had made no additional investments in the business and had made no withdrawals from the business. mars: the owner had made no additional investments in the business but had withdrawn $36,000. saturn: the owner had made an additional investment of $60,000 but had made no withdrawals. venus: the owner had made an additional investment of $60,000 and had withdrawn $36,000. jupiter net income $ mars net income $ saturn net income $ venus net income $

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2. the external environment (connect)choose whether each example belongs in the general, task, or internal environment.exampleenvironmenta worldwide recession task environment / general environment / internal environmentlocal mothers asking their community grocery store to carry no-salt cheerios-type cereal for their babies task environment / general environment / internal environmentchoose the phrase that best completes the following sentence.the relationship between the task environment and the general environment is best described as: a one-way system: changes in the task environment affect the general environment, but changes in the general environment do not affect the task environment.an open system: changes in the task environment affect the general environment, and changes in the general environment affect the task environment.a one-way system: changes in the general environment affect the task environment, but changes in the task environment do not affect the general environment.a closed system: changes in the general environment do not affect the task environment, and changes in the task environment do not affect the general environment.©bloomberg via getty imagesmanagement in the newsin april 2010, the explosion of british petroleum’s (bp) deepwater horizon oil drilling rig and the accompanying oil spill dramatically changed the external environment in which all oil companies operate. the explosion released more oil than any other accidental spill in history and had a huge impact on the waters and surrounding communities of the gulf coast. the conditions that led to the spill, the attempts to stop the spill, and the clean-up and aftermath of the spill prompted debates in the u.s. senate, concern on wall street, and attention from companies all over the world.match each oil spill event with a specific dimension of the general environment.eventgeneral environment dimensionbp stock prices falling 25% during the first month after the oil spill oil seeping into pelican nesting grounds, which will place the brown pelican back on the endangered species list people moving from louisiana to oklahoma to avoid the effects of the spill