Determine the book value at the end of 1992 by: •Straight-line method: a P 19,000 b. P 19,500 c. P 20,000 d. P 20,500 Sinking fund method at 12% interest.: a. P 27,354 b. P 30,333 c. P 29,520 d. P 41,200

Determine the book value at the end of 1992 by: •Straight-line method: a P 19,000 b. P 19,500 c. P 20,000 d. P 20,500 Sinking fund method at 12% interest.: a. P 27,354 b. P 30,333 c. P 29,520 d. P 41,200

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

3. ABC company purchased an equipment for P54,000 on 1980. Installation cost amounting to P6,000. The equipment are expected to have a useful life at the end of 1996 with a salvage value of 10% of the original cost. Determine the book value at the end of 1992 by: •Straight-line method: a P 19,000 b. P 19,500 c. P 20,000 d. P 20,500 Sinking fund method at 12% interest.: a. P 27,354 b. P 30,333 c. P 29,520 d. P 41,200 PLEASE SHOW YOUR SOLUTION. THANK YOU!

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