Q2: Sukuk Financial Services uses the units of activity method of depreciation. The company's fiscal year end is December 31. The following transactions and events occurred during the first year. March 31 Purchased a bus for the employees for $6,500 cash plus value added tax of $500 (non-refundable), the bus has a four-year life in which it can drive for 10,000 kilometers with an estimated salvage value of $500 Nov.1 Incurred ordinary repairs on the bus of $750. Dec. 31 Recorded the depreciation on the basis that the bus drove 6,000 kilometers. Instructions: Prepare the depreciation entry on 31st of December (show computations). Accounts names Date 31/12 Dr Cr

Q2: Sukuk Financial Services uses the units of activity method of depreciation. The company's fiscal year end is December 31. The following transactions and events occurred during the first year. March 31 Purchased a bus for the employees for $6,500 cash plus value added tax of $500 (non-refundable), the bus has a four-year life in which it can drive for 10,000 kilometers with an estimated salvage value of $500 Nov. 1 Incurred ordinary repairs on the bus of $750. Dec. 31 Recorded the depreciation on the basis that the bus drove 6,000 kilometers. Instructions: Prepare the depreciation entry on 31M of December (show computations). Q2: Sukuk Financial Services uses the units of activity method of depreciation. The company's fiscal year end is December 31. The following transactions and events occurred during the first year. March 31 Purchased a bus for the employees for $6,500 cash plus value added tax of $500 (non-refundable), the bus has a four-year life in which it can drive for 10,000 kilometers with an estimated salvage value of $500 Nov. 1 Incurred ordinary repairs on the bus of $750. Dec. 31 Recorded the depreciation on the basis that the bus drove 6,000 kilometers. Instructions: Prepare the depreciation entry on 31M of December (show computations)