Question 1 Mulan Enterprises pays PKR235,200 for equipment that will last five years and have a PKR52,500 salvage value on 1st September 2018. Prepare necessary entries for recording of equipment and adjusting entries of depreciation expense by the end of each accounting period for the 5 years according to methods given below. Assume that accounting period have 12 months started from January. i. Straight Line Method ii. Double Declining Balance Method Question 2 On January 2, 2011, the Crossover Band acquires sound equipment for concert performances at a cost of $55,900. The band estimates it will use this equipment for performing about 120 concerts. During year 2011, the band performs 40 concerts. Compute the year 2011 depreciation using the units of production method for 2011 and prepare the necessary entries for recording of sound equipment and adjusting entry of depreciation expense.