On January 1, 2021, Mama Company purchased a machine for P2,750,000. The machine was depreciated using the sum of years' digits method based on a useful life of 10 years with no residual value. On January 1, 2022, the entity changed to the straight line method of depreciation. The entity can justify the change. What is the depreciation for the machine on December 31, 2022? A 200,000 B 250,000 500,000 D 750,000

On January 1, 2021, Mama Company purchased a machine for P2,750,000. The machine was depreciated using the sum of years' digits method based on a useful life of 10 years with no residual value. On January 1, 2022, the entity changed to the straight line method of depreciation. The entity can justify the change. What is the depreciation for the machine on December 31, 2022? A 200,000 B 250,000 500,000 D 750,000

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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