Question: please be quick i have less time please Question 4 (15%) Our company purchased an equipment on 1 July 2022 with a cost of $80,000.

please be quick i have less time please

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Question 4 (15\%) Our company purchased an equipment on 1 July 2022 with a cost of $80,000. The equipment has no salvage value and a useful life of 4 years. Our company applies declining-balance method for the equipment. Our company also purchased a truck on 1 January 2022 with a cost of $110,000. The truck has salvage value of $10,000 and a useful life of 5 years. Our company applies straight-line method for the truck. Required: (a) Prepare depreciation schedule and make adjusting journal entries for the equipment. (8\%) (b) Prepare depreciation schedule and make adjusting journal entries for the truck. (7\%)

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