A stamping machine was purchased for P500K. Its scrap value is estimated at P50K after it yields 150K stamps. Develop a depreciation schedule for the machine. Year 2 3 4 5 6 Total Yield 18,325 10,540 ? 30,142 7 15,427 150,000 Book value at year start 500,000 ? 413,405 ? ? ? Depreciation during the year ? ? ? ? 121,008 ? Accumulated depreciation ? ? 192,285 ? ? 7 Book value at year end ? 413,405 ? ? ? 50,000

A stamping machine was purchased for P500K. Its scrap value is estimated at P50K after it yields 150K stamps. Develop a depreciation schedule for the machine. Year 2 3 4 5 6 Total Yield 18,325 10,540 ? 30,142 7 15,427 150,000 Book value at year start 500,000 ? 413,405 ? ? ? Depreciation during the year ? ? ? ? 121,008 ? Accumulated depreciation ? ? 192,285 ? ? 7 Book value at year end ? 413,405 ? ? ? 50,000

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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No.
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Problem
A stamping machine was purchased for P500K. Its scrap value is
estimated at P50K after it yields 150K stamps. Develop a depreciation
schedule for the machine.
Year
1
2
3
4
5
6
Total
Yield
18,325
10,540
?
30,142
?
15,427
150,000
Book value
at year start
500,000
?
413,405
7
?
?
Depreciation
during the
year
?
?
2
?
121,008
?
Accumulated
depreciation
?
?
192,285
7
?
7
Book value
at year end
?
413,405
?
7
?
50,000
Answer

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