T-ACC100 ACC106 (Fall 2021) Time left 1:47:20 Adnoc company purchases a specialized machine on January 1, 2022, at a cost of $100,000. The company estimated that the machine will have a salvage value of $10,000 at the end of its 4-year useful service life. Required 1. Prepare depreciation schedule using the straight-line method. (4 marks) 2. Prepare the journal entry to record 2022 depreciation. (2 marks) 3. Prepare the journal entry to record the acquisition of equipment on January 1, 2022. (2 marks) 4. Adnoc company purchases a vehicle at a cash price of $100,000. Related expenditures include sales taxes $1,500, shipping fees $500, customs fees $1000, and Mulkiya fees $100. Determine the cost of the vehicle. (2 marks) 5. Describe two characteristics of plant assets. (2 marks) Paragraph BI 1) Depreciable Depreciation Depreciation Accumulated Depreciation Book value