Own Your Own' Private Ltd is a small construction company specializing in brick-making and small scale house construction. It has been in this business for more than ten years and most of its machinery is now dilapidated thus negatively affecting production efficiency. The company approached its bank and got a R250 000 ten year loan which it used to acquire new machinery. The machinery required by the company was not locally available, so the company imported it from Germany at a price equivalent to R155 000. The company paid an import duty of R4 500, incurred R8 500 worth of shipping and delivery costs, and installation costs were R3 500. The machinery has an estimated useful life will be kept for 6 years after which it will be disposed of for an estimated amount of R25 000. Question a) Using the straight line method of depreciation, construct a depreciation schedule for the newly acquired machinery showing calculated book value at the beginning of each year, depreciation expense for each year, accumulated depreciation for each year and book value at the end of each year. Question b) Determine whether the company's estimate of the residual value is correct if amounts of depreciation are to be written off using the reducing balance method. (Support your answer with all necessary calculations) Enable Editing Question Among the machinery that was purchased was a brick making machine whose purchase was R45 000 to which the company paid an import duty of R1 500, incurred R3 500 worth of shipping and delivery costs and installation costs of R1 500. The machine has an estimated useful life of and will be kept for 6 years after which it will be disposed of for an estimated amount of R10 000. If the machine is expected to produce the following quantities of bricks: 240 000 in its 1st year of use, 345 000 in its 2nd, 365 000 in its 3rd, 270 000 in its 4th, 260 000 in its 5th, 155 000 in its 6th, apply the units of production depreciation method to construct a depreciation schedule for the machine. (Show opening carrying value, units of production, depreciation per unit, depreciation amount, accumulated depreciation and closing carrying value for each year) Question Compute the brick-making machine's (refer to c) depreciation schedule using the sum of the year's digits method. (Your schedule should show opening carrying value, cost less residual value, depreciation fraction, depreciation amount, accumulated depreciation and closing carrying value for each year)