A printing machine initially costs ₱141,000. It can be sold for ₱15,000 at the end of its 14-year useful life. Using the double declining balance method, what is the BOOK VALUE of the machine at the end of the second year of its useful life?

A printing machine initially costs ₱141,000. It can be sold for ₱15,000 at the end of its 14-year useful life. Using the double declining balance method, what is the BOOK VALUE of the machine at the end of the second year of its useful life?

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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Question

A printing machine initially costs ₱141,000. It can be sold for ₱15,000 at the end of its 14-year useful life.
Using the double declining balance method, what is the BOOK VALUE of the machine at the end of the second year of its useful life?

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