Question: Please answer it quickly 1. Tavleen Ltd purchased a machine for $400,000. Tavleen Ltd, wants the service life to be 5 years, useful life is

Please answer it quickly

1. Tavleen Ltd purchased a machine for $400,000. Tavleen Ltd, wants the service life to be 5 years, useful life is expected to be 200,000 hours. Salvage value is expected to be $30,000. After 5 years of use the machine was disposed, the actual hours of use are: Year one: 50,000 hours Year two: 40,000 hours Year three: 35,000 hours Year four: 45,000 hours Year five: 30,000 hours Requued: Prepare the depreciation schedule for the machine for five years. Find the depreciation expense and the book value of the machine for each of the five years using... a. Units of activity (2 marks) b. Double declining method (2 marks) 0. Straight line method (2 marks) 2. Kaur and Singh Company is a partnership business and decides to discontinue operations and liquidate the business on March 1, 2014. The company's balance sheet shows cash of $50,000, account receivable $75,000, equipment $25,000, accounts payable $40,000, Notes payable $15,000, Kaur capital $45,000, Singh capital $50,000. Requued: Prepare a schedule of cash payments to know the cash each partner will receive. (2 marks)
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