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can you please answer the whole question according to the format given. Machinery purchased for $51.200 by Flint Corp. on January 1, 2015. was originally

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can you please answer the whole question according to the format given.

Machinery purchased for $51.200 by Flint Corp. on January 1, 2015. was originally estimated to have an 8-year useful life with a residual value of $4,000. Depreciation has been entered for five years on this basis. In 2020, it is determined that the total estimated useful life (including 2020) should have been 10 years, with a residual value of $5,000 at the end of that time. Assume straight-line depreciation and that Flint Corp. uses IFRS for financial statement purposes. Prepare the entry that is required to correct the prior years' depreciation, if any. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Prepare the entry to record depreciation for 2020. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit e Textbook and Media Repeat part (b) assuming Flint Corp.uses ASPE and the machinery is originally estimated to have a physical life of 8.5 years and a salvage value of $o. In 2020, it is determined that the total estimated physical life (including 2020) should have been 11 years, with a salvage value of $100 at the end of that time. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Round answers too decimal places, eg. 5,275.) Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts Repeat part (b) assuming Flint Corp. uses the double-declining balance method of depreciation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry"for the account titles and enter for the amounts. Round answers to decimal places, eg. 5,275.) Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts

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