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On June 1 , 2 0 2 3 , a company buys equipment for KD 3 0 , 0 0 0 . It has, at

On June 1,2023, a company buys equipment for KD 30,000. It has, at the end of its useful life, a residual value KD 2,000, and an estimated life of 10 years.1. Assume the company uses double-declining-balance depreciation. Please complete the depreciation schedule below. (3 points)Depreciation for the yearDateAsset CostDepreciableCostDepreciation rateDepreciation expenseAccumulated depreciationBook value06-01-2023December 3120232. If the company uses the units of production depreciation method and the total units over the useful life of the equipment are 1,400,000 units. Compute the depreciation rate per unit? (2 points)3. Compute the book value at the end of the first year using the straight-line method. (2 points).4. The company sold the equipment at the end of the first year for KD 29,000. Make the journal entry to record the sale (assume the use of straight-line method for the depreciation)(3 points)

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