An industrial plant bought a generator set for P 90,000. Other expenses including installation amounted to P10,000. The generator set is to have a life of 17 years with a salvage value at the end of life of P 5,000. Determine the depreciation charge during the 13th year and the book value at the end of 13 years by the ff method: a. Sinking fund method at 12% b. SYD Method
An industrial plant bought a generator set for P 90,000. Other expenses including installation amounted to P10,000. The generator set is to have a life of 17 years with a salvage value at the end of life of P 5,000. Determine the depreciation charge during the 13th year and the book value at the end of 13 years by the ff method: a. Sinking fund method at 12% b. SYD Method
An industrial plant bought a generator set for P 90,000. Other expenses including installation amounted to P10,000. The generator set is to have a life of 17 years with a salvage value at the end of life of P 5,000. Determine the depreciation charge during the 13th year and the book value at the end of 13 years by the ff method: a. Sinking fund method at 12% b. SYD Method
Transcribed Image Text:An industrial plant bought a generator set for P 90,000. Other expenses including installation
amounted to P10,000. The generator set is to have a life of 17 years with a salvage value at the
end of life of P 5,000.
Determine the depreciation charge during the 13th year and the book value at the end of 13 years
by the ff method:
a. Sinking fund method at 12%
b. SYD Method
Definition Video Definition Accounting method wherein the cost of a tangible asset is spread over the asset's useful life. Depreciation usually denotes how much of the asset's value has been used up and is usually considered an operating expense. Depreciation occurs through normal wear and tear, obsolescence, accidents, etc. Video
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
