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The cost of the new machine should be? A 5,200.000 B  5,280.000 C 4,700.000 D  4,780.000 2. The discount not taken by Zamboanga should be charge to? A Purchase discount lost B Machinery C Sales discount forfeited D Accounts payable 3. The depreciable cost of the new machine would be A 4,230.000 B 4,302.000 C 4,680.000

The cost of the new machine should be? A 5,200.000 B  5,280.000 C 4,700.000 D  4,780.000 2. The discount not taken by Zamboanga should be charge to? A Purchase discount lost B Machinery C Sales discount forfeited D Accounts payable 3. The depreciable cost of the new machine would be A 4,230.000 B 4,302.000 C 4,680.000

FINANCIAL ACCOUNTING
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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The cost of the new machine should be?

A 5,200.000

B  5,280.000

C 4,700.000

D  4,780.000

2. The discount not taken by Zamboanga should be charge to?

A Purchase discount lost

B Machinery

C Sales discount forfeited

D Accounts payable

3. The depreciable cost of the new machine would be

A 4,230.000

B 4,302.000

C 4,680.000

D 4,752.000

4. How much is the yearlt depreciation using the straight line method

A 950,400

B 936,000

C 860,400

D 846,000

5. Using the sum of years' digit method, how much is the depreciation for the first year?

A 1,560.000

B 1,584.000

C 1,410.000

D. 1,434.000

Zamboanga Company purchased on account a machine with an invoice price of P5,000,000 subject to a cash discount of 10% which was not taken. Zamboanga incurred P50,000 freight and insurance during the shipment and P150,000 installation cost. Supplies for the machine were acquired at a cost of P80,000. It was estimated that the residual value of the machine is 10% of its total cost, while its estimated useful life is 5 years.
Transcribed Image Text:Zamboanga Company purchased on account a machine with an invoice price of P5,000,000 subject to a cash discount of 10% which was not taken. Zamboanga incurred P50,000 freight and insurance during the shipment and P150,000 installation cost. Supplies for the machine were acquired at a cost of P80,000. It was estimated that the residual value of the machine is 10% of its total cost, while its estimated useful life is 5 years.
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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation
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