An industrial plant bought a generator set for Php 350,000.00. Other expenses including installation amounted to Php 100,000.00. The genset has an estimated economic life up to 10 years with a salvage value at the end of its life of PhP5,000.00. Determine the book value at the 8th year using the declining balance method. Answer in two decimal places.
An industrial plant bought a generator set for Php 350,000.00. Other expenses including installation amounted to Php 100,000.00. The genset has an estimated economic life up to 10 years with a salvage value at the end of its life of PhP5,000.00. Determine the book value at the 8th year using the declining balance method. Answer in two decimal places.
Chapter1: Making Economics Decisions
Section: Chapter Questions
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An industrial plant bought a generator set for Php 350,000.00. Other expenses including installation amounted to Php 100,000.00. The genset has an estimated economic life up to 10 years with a salvage value at the end of its life of PhP5,000.00. Determine the book value at the 8th year using the declining balance method. Answer in two decimal places.
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