Answered: A machine was bought P100,000 and the…

A machine was bought P100,000 and the scrap value is P15,000 after 30years. Calculate its book value at year 14 with 5% interest rate.Use Sinking Fund Method. Straight Line Method(SLM)

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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A machine was bought P100,000 and the scrap value is P15,000 after 30years. Calculate its book value at year 14 with 5% interest rate.Use Sinking Fund Method.

Straight Line Method(SLM)

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