Answer:
a) Determination of the amount of the amortization, depletion, or impairment for the current year for each item:
    Item                 Impairment   Amortization    Depletion
                              Expense         Expense          Expense
a. Timber rights                                                  $304,000
b. Goodwill        $
1,110,000
c. Patent                                     $456,000
b) Adjusting Journal Entries:
Date       Account Titles                                   Debit         Credit
Dec. 31   Depletion Expense -Timber rights  $304,000
               Accumulated Depreciation - Timber rights     $304,000
To record the depletion expense for Timber rights.
Dec. 31   Goodwill Impairment Loss             $1,110,000
               Accumulated Goodwill Impairment                $1,110,000
To record the impairment loss for Goodwill
Dec. 31   Amortization Expense - Patent     $456,000
               Accumulated Amortization - Patent                 $456,000
To record the amortization expense for Patent.
Explanation:
a) Data and Calculations:
February 22, Purchase of Timber rights $1,140,000
Estimated stand of timber = 6,000,000
Used board feet of timber = 1,600,000
Units of product Depletion
= $1,140,000/6,000,000 * 1,600,000
= $304,000
December 31, Goodwill impairment 
= $1,110,000
April 3 Patent:
Cost incurred $9,120,000
Amortization per annum = $608,000 ($9,120,000/15)
Amortization for the current year = $456,000 ($608,000 * 3/4)