Amicab 50,000 production units. have a residual value of P35,000. The estimated useful life is 5 years, 60,000 service hours and January 1, 2020. It was estimated that the machine would ed a machine at a cost of P635,000 on a ctual operations Service hours 2020 Unit produced 2021 2022 2023 14,000 13,000 10,000 11,000 34,000 32,000 25,000 29,000
Amicab 50,000 production units. have a residual value of P35,000. The estimated useful life is 5 years, 60,000 service hours and January 1, 2020. It was estimated that the machine would ed a machine at a cost of P635,000 on a ctual operations Service hours 2020 Unit produced 2021 2022 2023 14,000 13,000 10,000 11,000 34,000 32,000 25,000 29,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
Given the data, prepare a depreciation table
(Depreciation Expense, Accumulated
Depreciation , Carrying Amount) for the
following methods:
1. Straight line
2. Service hours
3. Production method
Also, identify the Gain or Loss for each year and
every deprecation method if the machine is
sold at:
End of 1st Yr - 500,000
End of 2nd Yr - 360,000
End of 3rd Yr - 260,000
End of 4th Yr - 165,000
End of 5th Yr - 40,000
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