125) Explain how a company should decide which depreciation method to use for income tax purposes. 126) At year end the Carleton Corporation reviewed all of its property, plant and equipment assets...

125) Explain how a company should decide which depreciation method to use for income tax purposes.

126) At year end the Carleton Corporation reviewed all of its property, plant and equipment assets for impairment. It discovered that its boiler's recoverable amount exceeded its carrying value by $5,500. Another one of its assets, a warehouse building previously written down for an impairment of $12,750 experienced a financial recovery. Prepare the required adjustments. Note Carleton Corporation is a publicly traded corporation.

127) Key West Corporation, a public company determined its plant has experience an impairment due to a loss in market value. The impairment amount calculated by the controller totals $22,650. Prepare the required journal entry.