A man bought an equipment which cost P524.000.00. Freight and installation expenses cost him P31,000.00. If the life of the equipment is 15 years with an estimated salvage value of P 120,000.00, find its book value after 8 years. Ans. P323,000.00.Show the step by step solution and explanation.
A man bought an equipment which cost P524.000.00. Freight and installation expenses cost him P31,000.00. If the life of the equipment is 15 years with an estimated salvage value of P 120,000.00, find its book value after 8 years. Ans. P323,000.00.Show the step by step solution and explanation.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:A man bought an equipment which cost P524.000.00. Freight and installation expenses cost him P31,000.00. If the life of the
equipment is 15 years with an estimated salvage value of P 120,000.00, find its book value after 8 years. Ans. P323,000.00.Show
the step by step solution and explanation.
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