Instructions

a. Prepare the journal entries required for 2020, using the asset adjustment method.

b. Prepare the journal entries required for 2020, using the proportionate method. Do not round intermediate calculations but round final amounts to the nearest dollar.

c. Prepare a continuity schedule showing for each machine the amounts recorded to the Machine account and to the Accumulated Depreciation account, as well as indicating the carrying amount for each fiscal year from

date of purchase to December 31, 2020, using (1) the asset adjustment method and (2) the proportionate method. Show the carrying amount under each method at the end of each fiscal year.

WP Question 1 Pint Iwan 32.300 2001 20:20 Dec 2011 108.15 L 2000 25000 DEE Furth Credit WP Question 1 Pint Iwan 32.300 2001 20:20 Dec 2011 108.15 L 2000 25000 DEE Furth Credit