Supreme auto manufactures automobile spare components has bought a machine with value of P5,000,000. Life of the machine was 10 years and it has zero residual value. At the end of the fourth year the machine was revalued upwards by P200,000. The machine was depreciated with straight line method. Find fifth year depreciation amount for the machine if the remaining useful life of the machine was reassessed at 8th year.

Supreme auto manufactures automobile spare components has bought a machine with value of P5,000,000. Life of the machine was 10 years and it has zero residual value. At the end of the fourth year the machine was revalued upwards by P200,000. The machine was depreciated with straight line method. Find fifth year depreciation amount for the machine if the remaining useful life of the machine was reassessed at 8th year.

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Description: Supreme auto manufactures automobile spare components has bought amachine with value of P5,000,000. Life of the machine was 10 years and it haszero residual value.At the end of the fourth year the machine was revalued upwards by P200,000.The machine

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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