Question 4 18 Marks On the 1st January 2016, Air Nam purchased a used airplane at a cost of N$46,000,000. Air Nam expects the plane to remain useful for eight years (6,000,000 km) and to have a residual value of $4,000,000. Air Nam expects the plane to be flown 1,500,000 km the first year and 1,200,000 km the second year. Financial year ends on 31 January each year.

Required: Compute only 2017 and 2020 financial year depreciation expense and accumulated depreciation on the plane using the following method: a. Straight-line 4 Marks

Twaloloka Construction bought land and building at N$8 560 000 (Land N$4 200 000 and Building N$4 360 000) on 01 September 2000. The financial year ends on 30 June each year. Depreciation: 5% Straight line and No residual value.

Required: Calculation depreciation and accumulated depreciation for financial year ends 2014 to 2020 (last 6 years). 14 Marks