29. The first cost of a machine is P1,800,000 with a salvage value of P300,000 at the end of its life of 5 years. Determine the total depreciation after 3 years. Using Sum of Years Digit Method c. P1,300,000 a. P1,150,000 b. P1,200,000 d. P1,350,600

29. The first cost of a machine is P1,800,000 with a salvage value of P300,000 at the end of its life of 5 years. Determine the total depreciation after 3 years. Using Sum of Years Digit Method c. P1,300,000 a. P1,150,000 b. P1,200,000 d. P1,350,600

Name: 29. The first cost of a machine is P1,800,000 with asalvage value of
Uploaded: 2024-03-05T11:50:36.000Z
Channel: Bartleby
Description: 29. The first cost of a machine is P1,800,000 with asalvage value of P300,000 at the end of its life of 5years. Determine the total depreciation after 3years. Using Sum of Years Digit Methoda. P1,150,000c. P1,300,000b. P1,200,000d. P1,350,600

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

رA machine costs RO 40,000 with a salvage value of RO 20,000. The expected life of the machine is 38000 hours in six years. In the first year, the machine is used for 4000 hours. In the second year, 6000 hours and 8000 hours on the third year. What is the depreciation at the end of the second year by using units of production method? a. RO 5120 b. RO 3120 c. RO 2080 d. RO 4160
An asset cost $200,000. It has a salvage value of $40,000. It has a 10 year life. What would accumulated depreciation be at the end of three years assuming straight line depreciation? Group of answer choices $60,000 $40,000 $48,000 $160,000
A draw bench for precision forming and strengthening of carbon steel tubing has a cost of $1,110,000. It will have a salvage value of $76,000 after a useful life of 10 years. Part a Using the formulas, determine the depreciation charge for year 8 and the book value at the end of year 8 if straight-line depreciation is used. Depreciation charge: Book value: $ $
2. The first cost of a machine is Php 2,800,000 with a salvage value of Php 800,000 at the end of its six years of life. Determine the total depreciation after three years using the Straight Line Method of Depreciation.
A certain machine has a first cost of P 14,000, a ife of 8 years with a salvage value of P 10,000 at the end of its useful life. The total depreciation at the end of 3rd year of this machine is P 80,937.50. What method of depreciation is used in the calculation? A. Straight line methodB. Declining Balance method C. Double declining balanced method D. SYD method
9. An equipment costs P8,000 has an economic life of 8 years and salvage value of P400 at the end of 8 years. The first-year depreciation amounts to P1,688.89. What method is used in the calculation of the depreciation?
A manufacturing machine has a first cost of $50 thousand with a $22 thousand salvage value after 11 years. Find the book value at year 6 using simple Declining Balance (DB) Depreciation.
ZARA uses a First-In-First-Out (FIFO) perpetual inventory system and has the following purchases and sales: February 10 50 units were purchased at 28$ per unit. 75 units were purchased at 30$ per unit. February 16 What is the cost per unit sold assuming that 22 units were sold on February 29? $30 $25 $28 $27
1. The initial cost of a paint sand mill, including its installation is P 700,000.00. The BIR approved life of this machine is 19 years for depreciation. The estimated salvage value of the mill is P8,000.00 and the cost of dismantling is estimated to be P 5,000.00. Using straight line depreciation, what is the book value of the machine at the end of six years? 2. Equipment bought for P 87,000.00 is expected to last for 24 years. If the scrap value after 20 years is P 60,000.00. How much is the depreciation for year 12? 3. Determine the rate of depreciation, the total depreciation up to the end of the 6th year and the book value at the end of 6 years for an asset that cost P 16,000.00 new and has an es mated scrap value of P 2,000.00 at the end of 10 years by the double declining balance method. 4. A firm bought an equipment for P 58,000.00. Other expenses inclu ding installation amounted to P 2,000.00. The equipment is expected to have a life of 8 years with a salvage of 10% of the…
4 Construct the annual depreciation charge of an equipment purchased at a cost of P7,535,000 using double-dedining balance method if the estimated useful life is 10 years. determine also the estimated scrap value.
4. An equipment costs P8,000.00 has an economic life of 8 years and a salvage value of P400.00 at the end of 8 years. The first year depreciation amounts to P1688.89. What method is used in the calculation of the depreciation? Show solution.
Answer Part A with clear formulas