5 points What amount should be recorded as depreciation for 2021? * On January 1, 2019, Brazilia Company purchased for P4,800,000 a machine with a useful life of ten years and residual value of P200,000. The machine was depreciated by the double declining balance method and the carrying amount of the machine was P3,072,000 on December 31, 2020. The entity changed to the straight line method on January 1, 2021. The residual value did not change. 287200 384000 460000 359000

5 points What amount should be recorded as depreciation for 2021? * On January 1, 2019, Brazilia Company purchased for P4,800,000 a machine with a useful life of ten years and residual value of P200,000. The machine was depreciated by the double declining balance method and the carrying amount of the machine was P3,072,000 on December 31, 2020. The entity changed to the straight line method on January 1, 2021. The residual value did not change. 287200 384000 460000 359000

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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