Ten years ago, a contractor was able to purchase a crane whose capacity is 2000 tons costing P125 per ton. The life was estimated to be 15 years with a salvage value of 10% of the cost. A market has been found for the old crane for P80,000. If the depreciation has been figured on a straight line basis what is the
Ten years ago, a contractor was able to purchase a crane whose capacity is 2000 tons costing P125 per ton. The life was estimated to be 15 years with a salvage value of 10% of the cost. A market has been found for the old crane for P80,000. If the depreciation has been figured on a straight line basis what is the
Ten years ago, a contractor was able to purchase a crane whose capacity is 2000 tons costing P125 per ton. The life was estimated to be 15 years with a salvage value of 10% of the cost. A market has been found for the old crane for P80,000. If the depreciation has been figured on a straight line basis what is the
Ten years ago, a contractor was able to purchase a crane whose capacity is 2000 tons costing P125 per ton. The life was estimated to be 15 years with a salvage value of 10% of the cost. A market has been found for the old crane for P80,000. If the depreciation has been figured on a straight line basis what is the difference between the depreciation book value of the old crane and its sale value.
Final answer should be P20,000
Definition Video Definition Accounting method wherein the cost of a tangible asset is spread over the asset's useful life. Depreciation usually denotes how much of the asset's value has been used up and is usually considered an operating expense. Depreciation occurs through normal wear and tear, obsolescence, accidents, etc. Video
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