Problem 1: A civil engineer bought a crane for erecting tall buildings. It was invoiced from Japan (Cost, Insurance, freight) to Manila ay P 60, 000. Brokerage, custom's, permits and etc. total P 120,000. At the end of 10 years, he expects to sell it for P 70,000. Tabulate and determine the depreciation charge during the 4th year and the book value at the end of 6th year(show solution at these years) using the following:
Problem 1: A civil engineer bought a crane for erecting tall buildings. It was invoiced from Japan (Cost, Insurance, freight) to Manila ay P 60, 000. Brokerage, custom's, permits and etc. total P 120,000. At the end of 10 years, he expects to sell it for P 70,000. Tabulate and determine the depreciation charge during the 4th year and the book value at the end of 6th year(show solution at these years) using the following:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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double declining
Transcribed Image Text:d. Double Declining Balance Method
YEAR
BOOK VALUE AT THE
DEPRECIATION
BOOK VALUE AT THE
BEGINNING OF THE YEAR
CHARGE DURING THE
END OF THE YEAR
YEAR
Transcribed Image Text:Problem 1: A civil engineer bought a crane for erecting tall buildings. It was invoiced from Japan (Cost,
Insurance, freight) to Manila ay P 60, 000. Brokerage, custom's, permits and etc. total P 120,000. At the end of
10 years, he expects to sell it for P 70,000. Tabulate and determine the depreciation charge during the 4th year and
the book value at the end of 6th year(show solution at these years) using the following:
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