No.3 Marks-06 Arif Habib Company purchased equipment on June 30 2015 at a list price of Rs.600,000. paid transportation charges Rs.36000 and installation charges Rs.60000. Estimated life is 5 years and estimated salvage value Rs.56000. Following method were decided to use for calculating depreciation: Straight line method Reducing balance method (25%) Required: Prepare schedule of depreciation under each method separately for 2015 and 2016 showing cost, depreciation, accumulated depreciation and book value. (marks-3 each schedule)