A. On 1 Jan 2016, a machine was purchased at a cost of $555,000 and is estimated to have a useful life of 5 years and a residual value of $55,000. It is also estimated to have a production capacity of 80,000 units during its useful life. REQUIRED: Calculate its depreciation charge for the year ended 31 Dec 2016, based on: (a) Straight line method [3 marks] (b) Double declining rate [3 marks) (c) Units of production if it produced 11,000 units during the year. [4 marks] B. The ledger of Great Ltd included the following ledger balances: 1 Jan 31 Dec 2015 2015 $ $ Rental Income: Owing 4,000 4,950 Insurance Expense: Prepayments Owing 13,400 13,900 14.500 3,200 During the year ended 31 December 2015 the following transactions had been carried out: $ Rental received by cheque 321,000 Insurance paid by cheque 214.000 REQUIRED: Calculate the following for the year ended 31 December 2015: (a) Rental Income (b) Insurance Expense [4 marks) 16 marks) [Show all the necessary workings to support your final answers