A 2000 model Land Cruiser diesel engine is known for its efficient performance in the road will cost P 800, 000 which is estimated to have a life of 10 years and a salvage value P50, 000 at the end its useful life. Find the book value of the engine at the end of the 6th year using sinking fund method of depreciation if money is worth 4% compounded annually.

A 2000 model Land Cruiser diesel engine is known for its efficient performance in the road will cost P 800, 000 which is estimated to have a life of 10 years and a salvage value P50, 000 at the end its useful life. Find the book value of the engine at the end of the 6th year using sinking fund method of depreciation if money is worth 4% compounded annually.

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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