0. c. (1,400,000) d. (400,000) ,0000 (1,000,000) uity a portion 17. On January 1, 20x1, Pizzicato Co. acquired a machine for P20,000,000. Pizzicato Co. estimated a useful life of 10 vears and a residual value of P1,000,000 and used the straight line method of depreciation. In 20x4, Pizzicato Co. changed the depreciation method to the sum-of-the-years' digits method, and the estimates of useful life and residual value to a remaining 5-year useful life and P800,000, respectively. On July 21, 20x6, Pizzicato Co. sold the machine for P4,500,000. Pizzicato Co. incurred selling costs of P50,000. Pizzicato Co. prorates full-year depreciation on the basis of the nearest month. How much is the gain (loss) on the sale? much are the e revaluation 937,667 933,333 is currenty 00, effective years. The -line bass d. (175,000) c. 175,000 b. (162,237) a. 162,237

0. c. (1,400,000) d. (400,000) ,0000 (1,000,000) uity a portion 17. On January 1, 20x1, Pizzicato Co. acquired a machine for P20,000,000. Pizzicato Co. estimated a useful life of 10 vears and a residual value of P1,000,000 and used the straight line method of depreciation. In 20x4, Pizzicato Co. changed the depreciation method to the sum-of-the-years' digits method, and the estimates of useful life and residual value to a remaining 5-year useful life and P800,000, respectively. On July 21, 20x6, Pizzicato Co. sold the machine for P4,500,000. Pizzicato Co. incurred selling costs of P50,000. Pizzicato Co. prorates full-year depreciation on the basis of the nearest month. How much is the gain (loss) on the sale? much are the e revaluation 937,667 933,333 is currenty 00, effective years. The -line bass d. (175,000) c. 175,000 b. (162,237) a. 162,237

Name: 17. On January 1, 20x1, Pizzicato Co. acquired a machine foruity a po
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Description: 17. On January 1, 20x1, Pizzicato Co. acquired a machine foruity a portionc. (1,400,000)d. (400,000)b.,000,00(1,000,000)17 On January 1, 20x1, Pizzicato Co. acquired a machine forP20.000,000. Pizzicato Co. estimated a useful life of 10 vearsand a re

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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None
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On Oct 1, 20X1, ABC Company acquired an equipment for P102,000. Estimated residual value is P2,000 with an estimated life of 4 years. ABC uses the sum-of-years' digit method. How much is the accumulated depreciation at Dec 31, 20X3?
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