The Assignment must be submitted on Blackboard (WORD format only) via allocated folder. Assignments submitted through email will not be accepted. . Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page. - Students must mention question number clearly in their answer. Late submission will NOT be accepted. . Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions. All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism). Submissions without this cover page will NOT be accepted Q1. Compare the different depreciation methods. Give an example of how companies depreciate their plant assets under each method. (2 Marks) Q2. How are liabilities classified? Why is it important to classify liabilities? (1 Mark) Q3. On July 31, a company declared a cash dividend of SR0.25 per common share to the shareholders of record on August 15. The cash dividend will be paid on August 25. This company has 500,000 shares authorized and 100,000 shares outstanding. Prepare the journal entries required on July 31, August 15 and August 25 (2 Marks).