Please answer items 13, 14, 15 and 16. Thank you. 13. A generator has a first cost of P395,000 installation cost of P25,000 has anestimated salvage value of P25,000 after 5 years. Using sum of the year digitsmethod, determine the book value after 4 years.14. A company purchase an asset for P15,000 and plans to keep it for 18 years. If thesalvage value is zero at the end 18th year. What is the depreciation in the 4th year?Use SOYD15. An equipment has a first cost of P25,000 has a salvage value of P3000 after 8 years.What is the depreciation after 4 years using declining balance method?16. A large corporation has purchased a jet plane for use its executives. The cost of theplane is P86 million. It has a useful life of 10 years. The estimated resale value at theend of 10 years is P8 million pesos. Using the SOYD, what is the book value of the jetplane at the end of 4 years?

Hi student Since there are multiple questions, we will answer only first question.

13. A generator has a first cost of P395,000 installation cost of P25,000 has an estimated salvage value of P25,000 after 5 years. Using sum of the year digits method, determine the book value after 4 years.

13. A generator has a first cost of P395,000 installation cost of P25,000 has an estimated salvage value of P25,000 after 5 years. Using sum of the year digits method, determine the book value after 4 years.

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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Question

Please answer items 13, 14, 15 and 16. Thank you.

13. A generator has a first cost of P395,000 installation cost of P25,000 has an
estimated salvage value of P25,000 after 5 years. Using sum of the year digits
method, determine the book value after 4 years.
14. A company purchase an asset for P15,000 and plans to keep it for 18 years. If the
salvage value is zero at the end 18th year. What is the depreciation in the 4th year?
Use SOYD
15. An equipment has a first cost of P25,000 has a salvage value of P3000 after 8 years.
What is the depreciation after 4 years using declining balance method?
16. A large corporation has purchased a jet plane for use its executives. The cost of the
plane is P86 million. It has a useful life of 10 years. The estimated resale value at the
end of 10 years is P8 million pesos. Using the SOYD, what is the book value of the jet
plane at the end of 4 years?

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