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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
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