On December 31, 2020, RJ Co. had a 5-year old building with a cost of P10,000,000.00 and accumulated depreciation of P5,000,000.00. The building was being depreciated using the straight line depreciation method. It has an estimated useful life of 10 years and has no salvage value. On December 31, 2021, RJ decided to change its depreciation method to SYD. How much is the depreciation expense for 2022?

On December 31, 2020, RJ Co. had a 5-year old building with a cost of P10,000,000.00 and accumulated depreciation of P5,000,000.00. The building was being depreciated using the straight line depreciation method. It has an estimated useful life of 10 years and has no salvage value. On December 31, 2021, RJ decided to change its depreciation method to SYD. How much is the depreciation expense for 2022?

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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