A laboratory equipment costing ₱116,000 has a projected salvage value of ₱13,000 after 6 years of use. After 3 years of operation, a terrible accident made it a total loss. If a depreciation reserve was maintained in a bank account during its 3 years of operation using the straight line method, how much is in the account at the time of the accident?
A laboratory equipment costing ₱116,000 has a projected salvage value of ₱13,000 after 6 years of use. After 3 years of operation, a terrible accident made it a total loss. If a depreciation reserve was maintained in a bank account during its 3 years of operation using the straight line method, how much is in the account at the time of the accident?
A laboratory equipment costing ₱116,000 has a projected salvage value of ₱13,000 after 6 years of use. After 3 years of operation, a terrible accident made it a total loss. If a depreciation reserve was maintained in a bank account during its 3 years of operation using the straight line method, how much is in the account at the time of the accident?
A laboratory equipment costing ₱116,000 has a projected salvage value of ₱13,000 after 6 years of use. After 3 years of operation, a terrible accident made it a total loss.
If a depreciation reserve was maintained in a bank account during its 3 years of operation using the straight line method, how much is in the account at the time of the accident?
Definition Video Definition Accounting method wherein the cost of a tangible asset is spread over the asset's useful life. Depreciation usually denotes how much of the asset's value has been used up and is usually considered an operating expense. Depreciation occurs through normal wear and tear, obsolescence, accidents, etc. Video
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