B2 Part 1 Wine Corporation purchased a new equipment for $2,200,000 on 28 June 2018. The equipment has an estimated residual value of $100,000 and an estimated useful life of 8 years or an output of 60 million litres of wine. Wine Corp. closes and adjusts its accounts annually on 31 December. Required: (a) Compute the depreciation expenses on this equipment in 2018 and 2019 respectively by using the following methods: (i) Straight-line (with depreciation calculated to the nearest whole month); (2 marks) (ii) 200%-declining-balance (with full year depreciation in the acquisition year); and (2 marks) (iii) Units-of-output method (litres of production were 4 million in 2018 and 7.2 million in 2019). (2 marks) (b) If Wine Corporation adopts the depreciation method stated in (a)(ii) above and decides to donate this equipment to a charitable organisation on 15 January 2020, prepare the journal entries for this transaction on 15 January 2020. Assume no depreciation will be charged in the disposal year. (3 marks) Part II On 11 March 2016, Maryland Co. installed a solar system for $270,000 in its office building. The system had an estimated residual value of $30,000 and an estimated useful life of 10 years. On 4 November 2019, Maryland replaced the old solar panels with an advanced model at a total cost of $92,800 and revised the system's useful life to 15 years in total with no change in the residual value. Maryland adopts the straight-line method of depreciation (to the nearest whole month) and adjusts its accounts annually on 31 December. Required: (a) Compute the book value of the solar system after recondition. Show your workings. (3 marks) (b) Compute the depreciation expense of the solar system for the year 2019. Show your workings and round ALL answers to integers