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 Deprec. Asset Purchase Method* Equipment Furniture Land May 1/15 Jun. 28/15 Apr. 5/15 Units DDB N/A Cost $ 42,000 Residual Value 14,000 87,000 $ 4,560 2,200 N/A Useful Life 7,200 units Accum. Deprec. $ 21,840 Recoverable Amount $ 7,560 8 yrs N/A 11,249 N/A office building Apr. 5/15 SL 81,000 Warehouse Apr. 5/15 SL 58,000 18,800 12,000 15 yrs 24,800 20 yrs 14,938 *DDB = Double-declining-balance; SL = Straight-line; Units = Units-of-production; N/A = Not applicable Required: 3,150 103,800 54,500 47,100 1. Record any Impairment losses at December 31, 2020. Assume Kane Biotech has recorded no Impairment losses in previous years. Answer is complete and correct. No 1 Date Dec 31, 2020 General Journal Debit Credit Impairment loss Equipment Office building 14,300 12,600 1,700 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 1,900 units during 2021. Answer is not complete. No Date General Journal 1 December 31, 202 Depreciation expense, equipment Accumulated depreciation, equipment Debit Credit 1,995 x 1,995