1. Lucky Ltd. purchased an equipment for $100,000. The estimated useful life and scrap value are 10 years and $12,000 accordingly. Using sum of years digit method, calculate the depreciation. (1 mark) 2. An equipment that is purchased for $200,000, with useful life of 10 years, the scrap value is $20,000. The machine is expected to produce 150,000 units during its life time. expected production is: Year Production 1-3 20,000 units p/a 4-7 15,000 units p/a 8-10 10,000 units p/a Required: Estimate the value of depreciation in each year using the production of units' method (2 marks) 3. Harman Ltd. acquired a machine on the 1st of July, 2007 at a cost of $14,000 and expended $1,000 on its installation. Harman Ltd writes off depreciation at 10% of the original cost every year. The accounting records are closed on 31st December every year. Required: show the machinery account and depreciation account for the year 2007-2008 (2 marks)