D Property, plant and Equipment, adjusting entries using Pivot tables as support Question 3 You have recently been hired for a work term at LensCo, a privately owned chain of eyewear stores M In an effort to further expand its range of eyewear, LensCo acquired 100% of the shares of Solar Film Inc. ( on lanuary 1, 2021 S produces a brand of angles that they un dange LensCo has been busy integrating the two companies financial reporting systems. As a result, LensCo is still finalizing the financial statements for 2020 Your supervisor, Lee Cohen, needs your help with the Fixed Assets Register (see separate facel tab) In reviewing the data, Lee realized that the costs incurred for service pdf should have been expensed to Repairs and Maintenance expense. Instead, they were incorrectly capitalized to Property, Plant and Equipment, with depreciation monded in 2015 and 20 These service provider fees are listed as EXTERNAL QTRLY SERVICE under the DESCRIPTION column in the Fixed Assets Register bee separate Excel tab Required: 1) Prepare, using the Fixed Assets Register, a Pivot Table in a separate sheet that provides the supporting numbers for the necessary adjusting entry. The Pivet Table should be a seperate sheet Hint #1: First think of the information that you need to make the adjusting entry you need to reverse the PPE esset, reverse depreciation recorded in 2019 and 2020, and second repairs and maint expense for 2019 and 2020. Assume 2020 books are still open Hint #2: If you filter the Description column in the Fixed Assets Register, and select EXTERNAL QURLY SERVICE it wil help you see the information that has been recorded for me co Hint #3: Watch the Pivot Table video provided on D2L under Table of Contents Appendix A Cauliflows Step 1) Introduction Review the pre-class materials Pivot tables are easy to prepare and used often by accountants so this assignment gives you practice with this applied skill 2) Prepare the necessary adjusting entrylies) to correct 2019 and 2020 below, with the Pivot Table providing the supporting numbers for the entry(ies) Hint: The account names are provided as a dropdown menu under the Account column below. " DESCRIPTION SERIAL NO DEPRECIATIO MONTHS TO N DEPRECIATE THIS YEA DATE STORICAL PURCHAS COST PRO YEAR ADDITIONS CURRENT YEAR DOPOSALS NT COLOUR MUSON SYS NT COLOUR MISSION IVYS NT COLOUR MONEYS NT DEL SINV WHITE SINA WEST LIGHTS KUTEMAT XOXOEMSET 40 2011 20 20 vezn STAR 79000) TOTAL COST CURRENT YEAREN ACC DEP PROR YEAR CUENT DEPRECIATE ACC TEP ACE DEP END onronal CURRENT ON VALL INTE APLIN YEADEN- GANDLORD LM 300 00 14800 150 00 34000 13 700-00 520m 28206 SHEN 2001 7300 Co 20 0544 val 700 00 O00 41030 140000 atte 20 125000 1594 XXXU54 2500 201 100 2000 200000 EXCORSO 201 401 YOU URAIS wa 2e te 12006 306 7500 30 90 200 00 1550 ne em A 20 6 hote 60 50 9330 ESTLIGHT SHE H NA on ww 50 es 4530 AM KIN NA thi 150 es ESTLOHEME 50 NA 20 M 1330 TESTUOHT WHE SM 12 4 10 V STORAGE RADY NA 20 V STORACE FACK NA 201 120 STORACE HACK NA 201 120 1900 24 245 350 224 90 22450 52450 234 30 ww 4258 WWCATION INSTE 2900 1200 23544 ALEATION SYSTEM 290 128 1500 T TONY SERVICE 200 THE 10 54081 25 APPLICATION SY 10 400 450 3154) REW EXTERNAL GASOVICE 2626 2025 41.25 AHUS OLMO PROLAMOP 501 wal 10 2002 314 AUTOLIPOLAPTOP 50% 120 $16.50 SNS 30534 MN TERNAL GILY SERVICE NA 201 200 som 2620 no BOYINK GOLY SERVICE NA 201 28 2250 2650 5050 800 INLOO FRAPE HOLDES NA 15 no 200 4 WHO. 6 He 5400 30x0 M 456 FRAHE HELDOR NA 10% ma mond 5400 5406 FRAME HOLDER NA HO 1400 1400 495 AM eco 20 no 450 50 439 no 41,50 03 THE SU HESE TABLE 201 DAL QTLY SERVICE NA 2001 30 W 50 210 915 00 LOGAN SPEC DE NA 221 72.00 200 30 ERGONCHIC OFFICE OS NA 20% N10 2010 WOW BOHOR NA 20 199 300 24950 von WNCHORY TWA 2014 101 4215 4216 teens Pos Ow WED POLOWR NA 2001 2700 4251 ( 21000 4050 NA ne 26250 72] 88 xa 2925] SOMERCORPO 300 EXTERNAL ONLY SCE NO 201 10 535-00 10 875 AM Ma A 2 52500 10 NW 200 325.00 125.00 NA 20% 10 em 10 010 24538 301 VOK TABLEST NA 30 19050 NA HE +45 OFFEEXTROS 900000 2006 20] T 201 1640 336 AUTOPROLAPTOP HONTOR i orong Bow wattack 20 th in 30 JULY 2 Caveso