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value at the end of 3rd year, accrued depreciation at the end of 2nd year and annual depreciation cost at the end of 4th year. Show solutions for the asked years. Straight Line Formula

value at the end of 3rd year, accrued depreciation at the end of 2nd year and annual depreciation cost at the end of 4th year. Show solutions for the asked years. Straight Line Formula

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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STRAIGHT LINE FORMULA

Problem 1: A dump truck was bought for P750,000 three years ago. It will have a salvage value of P100,000 two years from now. Using the following methods, determine book value at the end of 3rd year, accrued depreciation at the end of 2nd year and annual depreciation cost at the end of 4th year. Show solutions for the asked years. a. Straight Line Formula YEAR BOOK VALUE AT THE ANNUAL DEPRECIATION ACCRUED DEPRECIATION BOOK VALUE AT THE END OF THE YEAR BEGINNING OF THE YEAR COST
Transcribed Image Text:Problem 1: A dump truck was bought for P750,000 three years ago. It will have a salvage value of P100,000 two years from now. Using the following methods, determine book value at the end of 3rd year, accrued depreciation at the end of 2nd year and annual depreciation cost at the end of 4th year. Show solutions for the asked years. a. Straight Line Formula YEAR BOOK VALUE AT THE ANNUAL DEPRECIATION ACCRUED DEPRECIATION BOOK VALUE AT THE END OF THE YEAR BEGINNING OF THE YEAR COST
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