Question: Question One: 20% Explain the difference between depreciation, depletion, and amortization. Question two: 80% Lockard SE purchased machinery on January 1, 2019, for 80,000. The

Question One: 20% Explain the difference between depreciation, depletion, and amortization.

Question One: 20% Explain the difference between depreciation, depletion, and amortization. Question two: 80% Lockard SE purchased machinery on January 1, 2019, for 80,000. The machinery is estimated to have a residual value of 8,000 after a useful life of 5 years. Compute the deprecation expense for year 1 and year 2 using the following methods a- Straight line b- Double declining C- Sum of years

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