Answered: 4. First cost = P100,000, Salvage value…

4. First cost = P100,000, Salvage value = P20,000, Service Life n = 8 years, Rate of interest = 6%. Find %3D the depreciation at the end of the 6th year using Sinking Fund Method.

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

no. 4 question thank you

SITUATION. A machine cost P1,800,000.00. It has a salvage value of P300,000 at the end of 5 years. If
money is worth 6% annually.
1. Determine the total depreciation at the 2nd year using declining balance method.
2. Find the book value after 3 years using sinking fund method.
3. Determine the starting depreciation charge using double declining balance method.
4. First cost =
P100,000, Salvage value
P20,000, Service Life n = 8 years, Rate of interest =
6%. Find
%D
the depreciation at the end of the 6th year using Sinking Fund Method.
SITUATION. The cost of a Dell Inspiron 15
7000 Series laptop unit is P50,000 with a salvage value of
P10,000 at the end of its life of 5 years. Determine the book-value, total depreciation, and depreciation
charge after 3 years. Consider an additional 5% of the initial cost for the accessories.
5. Using Sinking-Funk Method, i = 5%.

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