A machine having a first cost of P60,000.00 will be retired at the end of 8 years. Depreciation cost is computed using a constant percentage of the declining book value. What is the total cost of depreciation, in pesos, up to the time the machine is retired if annual rate of depreciation is 28.72%?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A machine having a first cost of P60,000.00 will be retired at the end of 8 years.
Depreciation cost is computed using a constant percentage of the declining book value.
What is the total cost of depreciation, in pesos, up to the time the machine is retired if
annual rate of depreciation is 28.72%?
Transcribed Image Text:A machine having a first cost of P60,000.00 will be retired at the end of 8 years. Depreciation cost is computed using a constant percentage of the declining book value. What is the total cost of depreciation, in pesos, up to the time the machine is retired if annual rate of depreciation is 28.72%?
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