On January 1, 2017, Mogul Company acquired equipment to be used in its servicing operations. The equipment is depreciated 10% per annum and an estimated residual value of P50,000. The depreciation expense applicable to this equipment was P65,000 for 2019 computed under straight line method. What was the acquisition cost of the equipment? P600,000 P700,000 P1,700,000 P650,000
On January 1, 2017, Mogul Company acquired equipment to be used in its servicing operations. The equipment is depreciated 10% per annum and an estimated residual value of P50,000. The depreciation expense applicable to this equipment was P65,000 for 2019 computed under straight line method. What was the acquisition cost of the equipment? P600,000 P700,000 P1,700,000 P650,000
On January 1, 2017, Mogul Company acquired equipment to be used in its servicing operations. The equipment is depreciated 10% per annum and an estimated residual value of P50,000. The depreciation expense applicable to this equipment was P65,000 for 2019 computed under straight line method. What was the acquisition cost of the equipment? P600,000 P700,000 P1,700,000 P650,000
On January 1, 2017, Mogul Company acquired equipment to be used in its servicing operations. The equipment is depreciated 10% per annum and an estimated residual value of P50,000. The depreciation expense applicable to this equipment was P65,000 for 2019 computed under straight line method. What was the acquisition cost of the equipment?
P600,000
P700,000
P1,700,000
P650,000
Definition Video Definition Accounting method wherein the cost of a tangible asset is spread over the asset's useful life. Depreciation usually denotes how much of the asset's value has been used up and is usually considered an operating expense. Depreciation occurs through normal wear and tear, obsolescence, accidents, etc. Video
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