Question 1: Zahid Company acquired machinery on January 1, 2015 with an amount AED62,000. The useful life of the machinery is expected to be 4 years. The salvage value at the end of the life of the machinery is expected to be AED2,000. The machinery can produce maximum 20,000 units during its useful life. Required: - a) Calculate depreciation expense for the year 2015, 2016, 2017 and 2018 by using straight-line method. Also calculate asset's book value at the end of these years. b) Calculate depreciation expense for the year 2015, 2016, 2017 and 2018 by using units of production method if following number of units were produced. Also calculate asset's book value at the end of these years. 2015: 6,000 units produced 2016: 7,000 units produced 2017: 4,000 units produced 2018: 3,000 units produced c) Calculate depreciation expense for the year 2015, 2016, 2017 and 2018 by using double-declining balance method. Also calculate asset's book value at the end of these years. d) Show the journal entry to show depreciation expense at the end of the year 2016 using i. Straight-line method ii. Unis-of-production method iii. Double declining balance method. c) Show the presentation of the asset in the balance sheet for the year 2017 using i. Straight-line method IL Unis-of-production method 1. Double declining balance method