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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.

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
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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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%.
Transcribed Image Text: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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