Salim Construction Ltd. acquired the following property, plant and equipment on January 1, 2018: Asset Office equipment Building Delivery equipment Cost $ 75,000 220,000 250,000 Residual Value $ 5,000 20,000 10,000 Useful Life 5 years 25 years 10 years amortization method double-declining balance method straight-line method units-of-production method The delivery equipment is estimated to be useful for 240,000 kilometers and was driven 30,000 kilometers during 2018 and 40 000 km during 2019 La Salle College 28/04/2020 (v. 1.6) REQUIRED 1. Calculate amortization expense for 2018 and 2019 for each of the above assets, using the schedules provided 2. Journalize the amortization expense of each asset at December 31 of both years 1. Amortization scheduleof the office equipment Date Asset cost Net book value (1) Amort. Rate Book value Amortization expense (3) Accumulated amortization 1 Jan. 1. 2018 Dec. 31 2018 Dec.31, 2019 Calculations : Date Book value Asset cost Amort Residual value Amortizable cost Amortization expense Accumulated amortization (4) (1) Jan. 1.2018 Dec 31 2018 Dec 31, 2019 CALCULATIONS: 3. Amortization schedule of the delivery equipment Residual Asset cost Amortizable cost Amortization per km Number of Km Accumulated Amotization Amort. Expense Net book value (5) Jan. 1. 2018 Dec.31 2018 Dec 31, 2019 CALCULATIONS