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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 on adjusted values at December 31, 2020:

Asset	Date of Purchase	Deprec. Method*	Cost			Residual Value			Useful Life	Accum. Deprec.			Recoverable Amount
Equipment	May 1/15	Units	$	63,000		$	3,160		8,800 units	$	39,440		$	6,160
Furniture	Jun. 28/15	DDB		30,000			3,800		8 yrs		25,169			5,650
Land	Apr. 5/15	N/A		103,000			N/A		N/A		N/A			119,800
Office building	Apr. 5/15	SL		113,000			33,200		15 yrs		39,200			70,500
Warehouse	Apr. 5/15	SL		82,000			28,000		20 yrs		30,938			63,100

*DDB = Double-declining-balance; SL = Straight-line; Units = Units-of-production; N/A = Not applicable

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 2,700 units during 2021. View transaction list Journal entry worksheet Record the revised depreciation on equipment. Note: Enter debits before credits. General Journal Debit Credit Date December 31, 2021 Record entry Clear entry View general journal

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