Sky Line Co is a manufacturer of escalators and elevators The following provides formation on two types of property, plant, and equipment as at the end of scal year 2020 (Cack the icon to view the data) Beaured Requirement a. Using the information in Assembly- Required - X Data -X 2021 Deprecation Requirement b. At the beginning of fisc appraisals in the past, these are the first company has chosen to use the proport Begin by reconding the journal entry for Date Acc 2021 Now record the journal entry for the reval Date 2021 Acc Choose from any list or enter any num a Using the above information, compute the depreciation that would be reconded on each of the two assets for 2021 Do not use the domaton t b. At the beginning of fiscal year 2021, Sky Line conducted sopranah of these assets. The appranas indicate that the factory bulding is worth $16.6 milion while the equipment is worth $4,400.000 while the company has conducted regular appraisals as the past these are the first appraisals to show significant deviations of fair value from carrying value in other words, there have been no revaluation surpluses or losses on these assets prior to 2021 For the revaluation on the equipment, the company has chosen to use the proportional method For the building, the company will use the method. Record the joumal entries to revalue these two assets at the beginning of 2021. c. Using the amounts afer revalastion, compute the depreciation that would be recorded on each of the two assets for 2021 d. Al the beginning of fiscal year 2022, Sky Line conducted another se which showed a value of $15 4 million for the building and $4,480 000 for the equipment. For consistency of accounting policies, the company must use the same revaluation policies as in 2021 (see requirement b above) Record the journal entries to revalue these two assets at the beginning of 2022 Print Done Cust Assembly Ana Factory Thes building $500 000 2250006 7 $1.000.000 on purchase da 15 youn Remaining all the 20 pas Mage ww $1,250-306 Dration policy Accundated depreciation at end of 2020 $2,000.00 Print Done Type here to search