Madhav Enterprises is the Melbourne's wholesale supplier of lawn mowing supplies and equipment. Assume Madhav Enterprises purchased for cash new loading equipment for the warehouse on January 1 of Year 1 , at an invoice price of $100,500. It also paid $5,800 for freight on the equipment, $3,200 to prepare the equipment for use in the warehouse. The equipment was estimated to have a residual value of $5,200 and be used for three years or 26,075 hours. (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) Complete the following: A. Record the purchase of the equipment, freight, and preparation costs on January 1 of Year 1. (2 marks) B. Create a depreciation schedule assuming Madhav Enterprises uses the straight-line method. (2 marks) C. Create a depreciation schedule assuming Madhav Enterprises uses the double-declining-balance method. (2 marks) D. Create a depreciation schedule assuming Madhav Enterprises uses the units-of-production method, with actual production of 7,075 hours in Year 1; 8,900 hours in Year 2; and 10,100 hours in Year 3. Govind Enterprises is a small photo studio in Melbourne. Theatre productions use the studio to mix high-quality demo recordings. New clients are required to pay in advance for studio services. Theatre productions with established credit are billed for studio services at the end of each month. Adjusting entries are performed monthly. An unadjusted trial balance dated December 31, year 1, follows. (Bear in mind that adjusting entries already have been made for the first 11 months of year 1 , but not for December.) Listed below are three errors or problems which might occur in the processing of cash transactions. Also shown is a list of internal control principles. Evaluate each possible error and cite a principle that is listed that would reduce the probability of the efror occurring. If none of the principles given will correct the problem, write "None." If you think more than one principle is appropriate, list all principles that apply. Possible Errors or Problems are given below: 1. The official designated to sign checks is able to steal blank checks and issue them without fear of detection. 2. A salesclerk in serving customers often rings up a sale for less than the actual amount and then keeps the additional cash collected from the customer. 3. Three cashiers use one cash register drawer and the cash in the drawer is often short of the balance kept on hand. Internal Control Principles a. Establishment of responsibility b. Segregation of duties c. Physical controls d. Documentation procedures e. Independent internal verification f. Human resource controls