An engineer bought equipment for P500,000. He spent an additional amount of P30,000 for installment and other expenses. The estimated useful life of the equipment is 10 years. The salvage value x% of the first cost. Using straight line method of depreciation, the book value at the end of 5 years will be P291,500. What is the value of x?
An engineer bought equipment for P500,000. He spent an additional amount of P30,000 for installment and other expenses. The estimated useful life of the equipment is 10 years. The salvage value x% of the first cost. Using straight line method of depreciation, the book value at the end of 5 years will be P291,500. What is the value of x?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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An engineer bought equipment for P500,000. He spent an additional amount of P30,000 for installment and other expenses. The estimated useful life of the equipment is 10 years. The salvage value x% of the first cost. Using straight line method of depreciation , the book value at the end of 5 years will be P291,500. What is the value of x?
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