The following occurred during the month of January at Julien Corp. (Click the icon to view the problem statement and data.) Required 1. For each of the amortization methods listed above, prepare an amortization schedule showing asset cost, amortization expense, accumulated amortization, and asset book value Assume a December 31 year end 2. Julien Corp. prepares financial statements for its creditors using the amortization method that maximizes reported income in the early years of asset use. Identify the amortization method that meets the business's -LU.-.- Requirement 1. For each of the amortization methods listed above, prepare an amortization schedule showing ass end. X 1 ye Problem statement Before completing the straight-line amortization schedule, calculate the straight-line amortization rate (Round the Time Straight-Line (1 Year) 1 Useful Life Amortization Rate Complete the Straight-Line Amortization Schedule Start by completing the first two years (Enter the rate to two q On January 5, 2020, Julien Corp. paid $440,000 for equipment used in manufacturing computer equipment. In addition to the basic purchase price, the business paid $2,500 transportation charges $620 insurance for the goods in transit, $35,200 provincial sales tax, and $21,000 for a special platform on which to place the equipment in the plant and move the payload. Julien Corp.'s owner estimates that the equipment will remain in service four years and have a residual value of $20,000. The equipment will produce 87.000 units in the first year, with annual production decreasing by 10 000 units during each of the next three years (that is, 77,000 units in Year 2. 67.000 in Year 3, and so on). In trying to decide which amortization method to use, owner Alex Johnson has requested an amortization schedule for each of three generally accepted amortization methods: straight-line, UOP, and DDB Straight-Line Amortization Schedule Asset Amortization Amortizable Amortization Asset Accumulated Amortization Date Cost Rate Cost Expense Book Value January 5, 2020 December 31, 2020 Print Done Ne 11/2 Before completing the units-of-production amortization schedule, calculate the amortization expense per unit rate. Pro Amortizable Total Unit Cost Output Amortization per Unit 2 m b tr e Complete the Units-of-Production Amortization Schedule. Start by completing the first two years. (Enter the rate to asset book value using the method described in the text.) V Units-of-Production Amortization Schedule a (t Asset Amortization Number of Amortization Accumulated Asset W Date a Cost Per Unit Units Expense Amortization Book Value S January 5, 2020 December 31, 2020 Decemher 31 2021 SL Amortization DDB rate 11 DDB rate Rate Multiplier II 1/4 Complete the Double-Declining-Balance Amortization Schedule. Start by completing the first two years. (E final two years using the method described in the text.) Double-Declining-Balance (DDB) Amortization Schedule Accumulated Asse Amortization Asset Asset DDB Amortization Book V Expense Cost Rate Book Value Date January 5, 2020 December 31, 2020 December 31, 2021 December 31, 2022 On ement 2. Julien Corp. prepares financial statements for its creditors using the amortization method that maximizes reported income in the early years of asset use. Identify the amortization method that meets the ss's objective for those years method, which produces the nortization method that reports the highest net income in the first years of the asset's life is the Ne