A company uses the composite method to depreciate its equipment. The following totalsare for all of the equipment in the group:Initial Residual Depreciable DepreciationCostValue CostPer YearP900,000 P100,000 P800,000P80,000What is the composite rate of depreciation?A machine with a cost of P23,000 was sold for P14,000 at the end of the third year.What entry should be made?

Equipment purchased and used by the entity will undergo wear and tear over the period where…

A company uses the composite method to depreciate its equipment. The following totals are for all of the equipment in the group: Initial Cost Residual Depreciable Depreciation Value Cost Per Year P80,000 P900,000 P100,000 P800,000 What is the composite rate of depreciation? A machine with a cost of P23,000 was sold for P14,000 at the end of the third year. What entry should be made?

A company uses the composite method to depreciate its equipment. The following totals are for all of the equipment in the group: Initial Cost Residual Depreciable Depreciation Value Cost Per Year P80,000 P900,000 P100,000 P800,000 What is the composite rate of depreciation? A machine with a cost of P23,000 was sold for P14,000 at the end of the third year. What entry should be made?

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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