A tractor that is being used in cultivating farm lands was acquired at a cost of P2. 745 million with an estimated useful life of 10 years. If the worth of money is 5.6% effective, a) What is the accrued depreciation at the end of 5 years? b) what is the book value at the end of 7 years? c) Tabulate the depreciation schedule.

A tractor that is being used in cultivating farm lands was acquired at a cost of P2. 745 million with an estimated useful life of 10 years. If the worth of money is 5.6% effective, a) What is the accrued depreciation at the end of 5 years? b) what is the book value at the end of 7 years? c) Tabulate the depreciation schedule.

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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