Samson bought a new cutting machine for P5,000,000.00. The machine could be sold for P50,000.00 after 20 years of use. What is the Book Value of the machine after 12 years? Compute using a) Straight Line Method and b) any other accepted method.

Samson bought a new cutting machine for P5,000,000.00. The machine could be sold for P50,000.00 after 20 years of use. What is the Book Value of the machine after 12 years? Compute using a) Straight Line Method and b) any other accepted method.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter10: Property, Plant And Equipment: Acquisition And Subsequent Investments

Section: Chapter Questions

Problem 3MC: Electro Corporation bought a new machine and agreed to pay for it in equal annual installments of...

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3. Samson bought a new cutting machine for P5,000,000.00. The machine could be sold
for P50,000.00 after 20 years of use. What is the Book Value of the machine after 12
years? Compute using a) Straight Line Method and b) any other accepted method.

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