QUESTION 79 Using the financial information for Confused Lid above Determine which set of financial statements as prepared using declining balance depreciation of 20 and which set was using straight line amortization of 20 years? Explain how you arrived at these results and no marks will be awarded for guessing TT TT Paragraph Arial 3/12 E.T. . XDOQOFE T T , - - . Blackboard XCO B Remalalag Time: 2 hours, 65 minutes, 13 seconds. Conked is completing styear of operations and is in the process of selecting the accounting policies it will adopt John Halls, the junior accounting clerk, has prepared the sofrandal statements using different accounting policies and accounting estimates that they are considering Unfortunately, he can't remember which policies he used for Confused Lid Draft Financial Statements 5500.000 140.000 Set 2 3500.000 375.000 125.000 20.000 550.000 51000 525.000 00.000 70.000 125.000 525.000 14.000 55.000 400.000 0.000) 05000 250.00 r ing FIFO and which was prepared vrageco The price of entory has been dropping Explain how you arrived at this