It is December 2020 and Wagner Inc. recently hired a new accountant, Jodie Larson. Although Wagner is a private company, it follows IFRS. As part of her preparation of the 2020 financial statements for Wagner Inc., Jodie has proposed the following accounting changes.

1.		At December 31, 2019, Wagner had a receivable of $190,000 from Michael Inc. on its statement of financial position that had been outstanding since mid-2018. In December 2020, Michael Inc. was declared bankrupt and no recovery is expected. Jodie proposes to write off the receivable in 2020 against retained earnings to correct a 2018 error.
2.		Jodie proposes to change from double-declining-balance to straight-line depreciation for the companys manufacturing assets because of a change in the pattern in which the assets provide benefits to the company. If straight-line depreciation had been used for all prior periods, retained earnings would have been $289,408 higher at December 31, 2019. The changes effect just on 2020 income is a $37,088 reduction.
3.		For equipment in the leasing division, Jodie proposes to adopt the sum-of-the-years-digits depreciation method, which the company has never used before. Wagner began operating its leasing division in 2020. If straight-line depreciation were to be used, 2020 income would be $83,600 higher.
4.		Wagner has decided to adopt the revaluation method for reporting and measuring its land, with this policy being effective from January 1, 2020. At December 31, 2019, the lands fair value was $684,000. The lands book value at December 31, 2019, was $570,000. (Hint: Refer to IAS 8 for the treatment of this specific change in policy.)
5.		Wagner has investments that are recorded at fair value through other comprehensive income (FV-OCI). At December 31, 2019, an error was made in the calculation of the fair values of these investments. The amount of the error was an overstatement of the fair value by $152,000. Prepare the required journal entries to record any adjustments.

Prepare the required journal entries to record any adjustments.