The corporation Reg SA purchased equipment on January 1, 2021, at a cost of €380,000

The corporation Reg SA purchased equipment on January 1, 2021, at a cost of €380,000. Reg uses the declining balance depreciation method, assuming a 6-year estimated useful life, and a residual value of €15,000. At the end of 2021, independent appraisers determined that the assets have a fair value of €320,000. a) Prepare the journal entry to record 2021 depreciation using the declining balance depreciation method. (Hint: use the double-declining rate) b) Prepare the journal entry to record the revaluation of the equipment. c) Using your answer from part (b), what would be the amount of Reg's 2022 depreciation? Assume no change in the value of Reg's equipment in 2022, a 5-year remaining life, and a residual value of €15,000. d) Ignoring your answers to parts (a) to (c), assume instead that independent appraisers determined that the assets have a fair value of €240,000 (at the end of 2021). Record the revaluation