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An industrial plant bought a generator set for P90,000. Other expenses including Installation amounted to P10,000. The generator set is to have a life of 17 years w salvage value at the end of life of P5,000. Determine the depreciation charge duri the 13th year and the book value at the end of 13 years by the (c) sinking fund method if interest rate is 5 percent compounded annually, anc

An industrial plant bought a generator set for P90,000. Other expenses including Installation amounted to P10,000. The generator set is to have a life of 17 years w salvage value at the end of life of P5,000. Determine the depreciation charge duri the 13th year and the book value at the end of 13 years by the (c) sinking fund method if interest rate is 5 percent compounded annually, anc

FINANCIAL ACCOUNTING
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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An industrial plant bought a generator set for P90,000. 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 P5,000. Determine the depreciation charge during the 13th year and the book value at the end of 13 years by the 5. (c) sinking fund method if interest rate is 5 percent compounded annually, and (d) SYD method. 2
Transcribed Image Text:An industrial plant bought a generator set for P90,000. 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 P5,000. Determine the depreciation charge during the 13th year and the book value at the end of 13 years by the 5. (c) sinking fund method if interest rate is 5 percent compounded annually, and (d) SYD method. 2
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