A civil engineer bought a crane for erecting tall buildings. It was invoiced from Japan (Cost,Insurance, freight) to Manila ay P 60, 000. Brokerage, custom’s, permits and etc. total P 120,000. At the end of10 years, he expects to sell it for P 70,000. Tabulate and determine the depreciation charge during the 4th year andthe book value at the end of 6th year(show solution at these years) using the following: Show solutions for the first 2 yrs d. Double Declining Balance MethodYEARBOOK VALUE AT THEDEPRECIATIONBOOK VALUE AT THEBEGINNING OF THE YEARCHARGE DURING THEEND OF THE YEARYEAR Problem 1: A civil engineer bought a crane for erecting tall buildings. It was invoiced from Japan (Cost,Insurance, freight) to Manila ay P 60, 000. Brokerage, custom's, permits and etc. total P 120,000. At the end of10 years, he expects to sell it for P 70,000. Tabulate and determine the depreciation charge during the 4th year andthe book value at the end of 6th year(show solution at these years) using the following:

Introduction:- First we need to calculate straight-line method of depreciation rate Cost of the…

Answered: A civil engineer bought a crane for…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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A civil engineer bought a crane for erecting tall buildings. It was invoiced from Japan (Cost,
Insurance, freight) to Manila ay P 60, 000. Brokerage, custom’s, permits and etc. total P 120,000. At the end of
10 years, he expects to sell it for P 70,000. Tabulate and determine the depreciation charge during the 4th year and
the book value at the end of 6th year(show solution at these years) using the following: Show solutions for the first 2 yrs

d. Double Declining Balance Method
YEAR
BOOK VALUE AT THE
DEPRECIATION
BOOK VALUE AT THE
BEGINNING OF THE YEAR
CHARGE DURING THE
END OF THE YEAR
YEAR

Problem 1: A civil engineer bought a crane for erecting tall buildings. It was invoiced from Japan (Cost,
Insurance, freight) to Manila ay P 60, 000. Brokerage, custom's, permits and etc. total P 120,000. At the end of
10 years, he expects to sell it for P 70,000. Tabulate and determine the depreciation charge during the 4th year and
the book value at the end of 6th year(show solution at these years) using the following:

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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation

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