ISABELA Company has the following equipment acquisitions during the year 2020: April 1, 2020 – Cost of P3,200,000, salvage value of P200,000 and useful life of four years. June 30, 2020 – Cost of P1,350,000, salvage value of P150,000 and useful life of six years October 1, 2020 – Cost of P3,000,000, salvage value of zero and useful life of five years. What is the amount of accumulated depreciation as of December 31, 2021?
ISABELA Company has the following equipment acquisitions during the year 2020: April 1, 2020 – Cost of P3,200,000, salvage value of P200,000 and useful life of four years. June 30, 2020 – Cost of P1,350,000, salvage value of P150,000 and useful life of six years October 1, 2020 – Cost of P3,000,000, salvage value of zero and useful life of five years. What is the amount of accumulated depreciation as of December 31, 2021?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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#27
ISABELA Company has the following equipment acquisitions during the year 2020:
- April 1, 2020 – Cost of P3,200,000, salvage value of P200,000 and useful life of four years.
- June 30, 2020 – Cost of P1,350,000, salvage value of P150,000 and useful life of six years
- October 1, 2020 – Cost of P3,000,000, salvage value of zero and useful life of five years.
What is the amount of
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