Kane Biotech was preparing the annual financial statements and, as part of the year-end procedures, assessed the assets and prepared the following alphabetized schedule based on adjusted values at December 31, 2020: (Do not round intermediate calculations. Round final answers to nearest whole dollar.) Date of Asset Purchase Deprec. Method* Equipment Furniture Land May 1/15 Jun. 28/15 Apr. 5/15 Units DDB N/A Cost $ 40,000 Residual Value Useful Life 12,000 $ 5,000 2,000 7,000 units 8 yrs Accum. Deprec. $ 20,000 Recoverable Amount $ 8,000 9,509 85,000 N/A N/A Office building Apr. 5/15 SL 77,000 Warehouse Apr. 5/15 SL 55,000 17,000 10,000 15 yrs 20 yrs N/A 23,000 2,950 101,800 52,500 12,938 45,100 *DDB = Double-declining-balance; SL = Straight-line; Units = Units-of-production; N/A = Not applicable Required: 1. Record any impairment losses at December 31, 2020. Assume Kane Biotech has recorded no impairment losses in previous years. Journal entry worksheet 1 Record impairment loss on PPE, if any. Note: Enter debits before credits. Date Dec 31, 2020 General Journal Debit Credit View general journal Record entry Clear entry 2. Record depreciation for each asset at December 31, 2021. Assume that there was no change in the residual values or useful lives regardless of any impairment losses that might have occurred. The equipment produced 1,800 units during 2021. View transaction list Journal entry worksheet 1 2 3 4 Record the revised depreciation on equipment. Note: Enter debits before credits. Date December 31, 2021 General Journal Debit Credit Journal entry worksheet 1 2 3 4 Record the depreciation on furniture. Note: Enter debits before credits. Date December 31, 2021 General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 Record the depreciation on office building. Note: Enter debits before credits. Date December 31, 2021 General Journal Debit Credit Record entry Clear entry View general journal > Journal entry worksheet < 1 2 3 4 Record the depreciation on warehouse. Note: Enter debits before credits. Date December 31, 2021 General Journal Debit Credit Record entry Clear entry View general journal