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2. An engineer bought a brand-new car that cost P1,500,000 with a useful life of 5 years. The salvage value is P500,000.| a) Calculate the depreciation value and the book value per year using the straight line (SL) method for 5 years. Fill up the empty cells in the given table. Compute also the total depreciation at the end of 5 years. Year Book Value Depreciation Book Value (Beginning of the Year) (End of the Year) 1 3 4 b) Calculate the depreciation value and the book value per year using the double declining balance (DDB) method using 40% yearly depreciation rate for five years. Fill up the empty cells in the given table. Compute also the total depreciation at the end of 5 years. Year Book Value Depreciation Book Value (Beginning of the Year) (End of the Year) 1 2 3 4 5 c) Calculate the depreciation value and the book value per year using the sum- of-the-year-digit method for the 5 years. Fill up the empty cells in the given table. Book Value (Beginning of the Year) Year Depreciation Factor Depreciation 1 2 3 4 5

2. An engineer bought a brand-new car that cost P1,500,000 with a useful life of 5 years. The salvage value is P500,000.| a) Calculate the depreciation value and the book value per year using the straight line (SL) method for 5 years. Fill up the empty cells in the given table. Compute also the total depreciation at the end of 5 years. Year Book Value Depreciation Book Value (Beginning of the Year) (End of the Year) 1 3 4 b) Calculate the depreciation value and the book value per year using the double declining balance (DDB) method using 40% yearly depreciation rate for five years. Fill up the empty cells in the given table. Compute also the total depreciation at the end of 5 years. Year Book Value Depreciation Book Value (Beginning of the Year) (End of the Year) 1 2 3 4 5 c) Calculate the depreciation value and the book value per year using the sum- of-the-year-digit method for the 5 years. Fill up the empty cells in the given table. Book Value (Beginning of the Year) Year Depreciation Factor Depreciation 1 2 3 4 5

FINANCIAL ACCOUNTING
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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2. An engineer bought a brand-new car that cost P1,500,000 with a useful life of 5 years. The salvage value is P500,000.| a) Calculate the depreciation value and the book value per year using the straight line (SL) method for 5 years. Fill up the empty cells in the given table. Compute also the total depreciation at the end of 5 years. Year Book Value Depreciation Book Value (Beginning of the Year) (End of the Year) 1 2 3 4 5 b) Calculate the depreciation value and the book value per year using the double declining balance (DDB) method using 40% yearly depreciation rate for five years. Fill up the empty cells in the given table. Compute also the total depreciation at the end of 5 years. Year Book Value Depreciation Book Value (Beginning of the Year) (End of the Year) 1 2 3 4 5 c) Calculate the depreciation value and the book value per year using the sum- of-the-year-digit method for the 5 years. Fill up the empty cells in the given table. Year Book Value Depreciation Factor Depreciation (Beginning of the Year) 1 2 3 4
Transcribed Image Text:2. An engineer bought a brand-new car that cost P1,500,000 with a useful life of 5 years. The salvage value is P500,000.| a) Calculate the depreciation value and the book value per year using the straight line (SL) method for 5 years. Fill up the empty cells in the given table. Compute also the total depreciation at the end of 5 years. Year Book Value Depreciation Book Value (Beginning of the Year) (End of the Year) 1 2 3 4 5 b) Calculate the depreciation value and the book value per year using the double declining balance (DDB) method using 40% yearly depreciation rate for five years. Fill up the empty cells in the given table. Compute also the total depreciation at the end of 5 years. Year Book Value Depreciation Book Value (Beginning of the Year) (End of the Year) 1 2 3 4 5 c) Calculate the depreciation value and the book value per year using the sum- of-the-year-digit method for the 5 years. Fill up the empty cells in the given table. Year Book Value Depreciation Factor Depreciation (Beginning of the Year) 1 2 3 4
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