Property, plant and equipment.

Listed below are various depreciation methods followed by a series of descriptive statements. Match the depreciation method to the statements by placing the appropriate letter in the space provided. In some cases, more than one method is appropriate. DEPRECIATION METHODS A. Straight-line B. Units-of-activity C. Double-declining-balance D. Capital cost allowance E. None of these STATEMENTS 1. the simplest method to apply 2. produces decreasing amounts of depreciation each year 3. provides the largest annual depreciation expense for financial reporting in the related asset's first year 4. residual value is not used in annual depreciation expense calculation 5 annual depreciation is calculated using a per-unit cost Acker Limited sold a piece of equipment August 1, 2020 for proceeds of $22.000. The equipment had an original value of $60,000 and was purchased on January 1, 2017. It was estimated to have a residual value of $3,000 and 5 year useful life. Acker uses the straight-line method. Acker has a December 31 year end. Instructions Journalize all entries required to update depreciation and record the sale of the asset in 2020 (Note: Accumulated depreciation at Dec 31, 2019 is $ 34,200)