Question: 2. Answer both A and B questions. A. Distinguish between Straight Line Depreciation and Written Down Value Method. B. A Manufacturing company in Oman purchased

2. Answer both A and B questions. A. Distinguish between Straight

2. Answer both A and B questions. A. Distinguish between Straight Line Depreciation and Written Down Value Method. B. A Manufacturing company in Oman purchased a machine on 1st of July 2015, at a cost of OMR 60,000. with an estimated salvage value of RO 4.000. It is expected that the asset will be useful for 7 years. Assume that the company use straight line method for calculating depreciation. Calculate the following. 1. Calculate the depreciation expense for the machine during 2015 and 2016. 2. Calculate the book value of the asset at the end of 2015 and 2016. 3. Prepare a table for the following: Year, Cost, Depreciation, Accumulated Depreciation and Book Value

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