Problem 4: A piece of equipment used in a business has a first cost of P 50,000 and is expected to have a salvage value of P 10,000 when replaced after 30,000 hours of use. Compute: 1. the depreciation per hour use 2. the book value after 12,000 hours of operation

Problem 4: A piece of equipment used in a business has a first cost of P 50,000 and is expected to have a salvage value of P 10,000 when replaced after 30,000 hours of use. Compute: 1. the depreciation per hour use 2. the book value after 12,000 hours of operation

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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Please answer what is asked in Problem 4 and show complete solution. Thank you.

Compute the book value of the machine at the end of the third year.
Problem 4: A piece of equipment used in a business has a first cost of P 50,000 and is
expected to have a salvage value of P 10,000 when replaced after 30,000 hours of use.
Compute:
1. the depreciation per hour use
2. the book value after 12,000 hours of operation
Dreblem
rtein m eobinge bee

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