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 ) Asset Date of Purchase Deprec Method Cost Residual Value Useful Life Accum Deprec Recoverable Amount Equipment May 1 15 Units $ 60,000 $ 4,750 8,500 units $ 35,750 $ 7,750 Furniture Jun 28 15 DDB 27,000 3,500 8 yrs 22,559 5,050 Land Apr 5 15 N A 100,000 N A N A N A 116,800 Office building Apr 5 15 SL 107,000 30,500 15 yrs 36,500 67,500 Warehouse Apr 5 15 SL 77,500 25,000 20 yrs 27,938 60,100 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 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 2,550 units during 2021

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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

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.)

Asset	Date of Purchase	Deprec. Method*	Cost		Residual Value		Useful Life	Accum. Deprec.		Recoverable Amount
Equipment	May 1/15	Units	$	60,000	$	4,750	8,500 units	$	35,750	$	7,750
Furniture	Jun. 28/15	DDB		27,000		3,500	8 yrs		22,559		5,050
Land	Apr. 5/15	N/A		100,000		N/A	N/A		N/A		116,800
Office building	Apr. 5/15	SL		107,000		30,500	15 yrs		36,500		67,500
Warehouse	Apr. 5/15	SL		77,500		25,000	20 yrs		27,938		60,100

*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.

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 2,550 units during 2021.