A machine was purchased at an original cost of P400,000.00 with a salvage value of P20,000.00. Life of the machine is expected to last for 6 years. It was used for 4000hours in the first year and 6000hours on the second year if the machine is expected to last for 38,000 hours in a period of 6years.

A machine was purchased at an original cost of P400,000.00 with a salvage value of P20,000.00. Life of the machine is expected to last for 6 years. It was used for 4000hours in the first year and 6000hours on the second year if the machine is expected to last for 38,000 hours in a period of 6years.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter18: Accounting For Long-term Assets

Section: Chapter Questions

Problem 3CE: A machine costing 350,000 has a salvage value of 15,000 and an estimated life of three years....

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