A grocery store bought a generator set for P100,000. Other expenses including installation amounted to P15,000. The generator set is to have a life of 20 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 (a) double declining balance method (b) SYD method.

Answered: Determine the depreciation charge…

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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A grocery store bought a generator set for P100,000. Other expenses including installation amounted to P15,000. The generator set is to have a life of 20 years with a salvage value at the end of life of P5,000. Determine the depreciation charge during the 13^th year and the book value at the end of 13 years by the (a) double declining balance method (b) SYD method.

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