Depreciation expense is 2.4% of the gross beginning balance of property, plant and equipment (PPE). As of December 31, 2021, the gross balance of PPE is P3,980,000. For January 2022, P500,000 new PPE will be acquired. It is the policy of the company that PPE acquired in the first half of the year will be depreciated for one full year. (Assume that PPE, net at the end of 2021 is #3,123,090.) How much is the PPE, net and Accumulated Depreciation - PPE on December 31, 2022? P3,875,670.00; P684,350.00 P3,675,870.00; P864,530.00 P3,575,670.00; P984,550.00 P3,515,570.00; P964,430.00

Depreciation expense is 2.4% of the gross beginning balance of property, plant and equipment (PPE). As of December 31, 2021, the gross balance of PPE is P3,980,000. For January 2022, P500,000 new PPE will be acquired. It is the policy of the company that PPE acquired in the first half of the year will be depreciated for one full year. (Assume that PPE, net at the end of 2021 is #3,123,090.) How much is the PPE, net and Accumulated Depreciation - PPE on December 31, 2022? P3,875,670.00; P684,350.00 P3,675,870.00; P864,530.00 P3,575,670.00; P984,550.00 P3,515,570.00; P964,430.00

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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Question

Depreciation expense is 2.4% of the gross beginning balance of property, plant and equipment (PPE). As of
December 31, 2021, the gross balance of PPE is P3,980,000. For January 2022, P500,000 new PPE will be
acquired. It is the policy of the company that PPE acquired in the first half of the year will be depreciated for one full
year. (Assume that PPE, net at the end of 2021 is #3,123,090.)
How much is the PPE, net and Accumulated Depreciation - PPE on December 31, 2022?
P3,875,670.00; P684,350.00
P3,675,870.00; P864,530.00
P3,575,670.00; P984,550.00
P3,515,570.00; P964,430.00

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