problems 1. A computer, printer and a copier were purchased for a total price of Php 250,000 on August 1, 2013. The company estimated that the equipment purchased will be effectively used for 5 years and after that the equipment can be sold for Php 20,000 a. How much is the annual depreciation of the equipment? b. How much depreciation will be recorded in year 2013, assuming the maintaining a calendar period? c. What percent of the cost of the equipment is the annual depreciation? d. How much is the depreciation for year 2014? e. Prepare the adjusting journal entry for years 2013 and 2014.
problems 1. A computer, printer and a copier were purchased for a total price of Php 250,000 on August 1, 2013. The company estimated that the equipment purchased will be effectively used for 5 years and after that the equipment can be sold for Php 20,000 a. How much is the annual depreciation of the equipment? b. How much depreciation will be recorded in year 2013, assuming the maintaining a calendar period? c. What percent of the cost of the equipment is the annual depreciation? d. How much is the depreciation for year 2014? e. Prepare the adjusting journal entry for years 2013 and 2014.
Intermediate Financial Management (MindTap Course List)
13th Edition
ISBN:9781337395083
Author:Eugene F. Brigham, Phillip R. Daves
Publisher:Eugene F. Brigham, Phillip R. Daves
Chapter12: Capital Budgeting: Decision Criteria
Section: Chapter Questions
Problem 22P: The Scampini Supplies Company recently purchased a new delivery truck. The new truck cost $22,500,...
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![Solve the following problems
1. A computer, printer and a copier were purchased for a total price of Php 250,000 on
August 1, 2013. The company estimated that the equipment purchased will be effectively
used for 5 years and after that the equipment can be sold for Php 20,000
a. How much is the annual depreciation of the equipment?
b. How much depreciation will be recorded in year 2013, assuming the maintaining a
calendar period?
C.
What percent of the cost of the equipment is the annual depreciation?
d. How much is the depreciation for year 2014?
e. Prepare the adjusting journal entry for years 2013 and 2014.
2. Office chairs and tables were purchased from a furniture shop amounting to Php 350,000
on December 1, 2013. The company estimated that the life of the pieces of furniture will
be 10 years and can be sold for scrap of Php 30,000
a. What is the adjusting journal entry at the end of the calendar period of December 31,
2013
b. What is the book value of the pieces of furniture at the end of the calendar year 2015?
3. A company purchased an air conditioner at SY Appliance Center for Php 45,000 and paid
an installation fee of Php 6,000 with a delivery charge of Php 1,000. The air conditioner
has an estimated life span of 5 years with a residual value of Php 15,000
a. What is the depreciable cost of the air conditioner?
b. How much is the annual depreciation?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Faf7afa7f-77b9-4797-a008-e46b880a870b%2Fb63659c9-1a9d-46bf-91fe-f870d23a2489%2F5fp6ui_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Solve the following problems
1. A computer, printer and a copier were purchased for a total price of Php 250,000 on
August 1, 2013. The company estimated that the equipment purchased will be effectively
used for 5 years and after that the equipment can be sold for Php 20,000
a. How much is the annual depreciation of the equipment?
b. How much depreciation will be recorded in year 2013, assuming the maintaining a
calendar period?
C.
What percent of the cost of the equipment is the annual depreciation?
d. How much is the depreciation for year 2014?
e. Prepare the adjusting journal entry for years 2013 and 2014.
2. Office chairs and tables were purchased from a furniture shop amounting to Php 350,000
on December 1, 2013. The company estimated that the life of the pieces of furniture will
be 10 years and can be sold for scrap of Php 30,000
a. What is the adjusting journal entry at the end of the calendar period of December 31,
2013
b. What is the book value of the pieces of furniture at the end of the calendar year 2015?
3. A company purchased an air conditioner at SY Appliance Center for Php 45,000 and paid
an installation fee of Php 6,000 with a delivery charge of Php 1,000. The air conditioner
has an estimated life span of 5 years with a residual value of Php 15,000
a. What is the depreciable cost of the air conditioner?
b. How much is the annual depreciation?
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