Answered: A machine costing P 733,615 is…

A machine costing P 733,615 is estimated to have a life of 10 years. If the annual rate of depreciation is 0.19 determine the total depreciation at the

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter18: Accounting For Long-term Assets

Section: Chapter Questions

Problem 3CE

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Question

A machine costing P 733,615 is
estimated to have a life of 10 years. If
the annual rate of depreciation is 0.19,
determine the total depreciation at the
year 9 using a constant percentage of
6.
the declining balance method.
**Use four (4) decimal places

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A machine costing 350,000 has a salvage value of 15,000 and an estimated life of three years. Prepare depreciation schedules reporting the depreciation expense, accumulated depreciation, and book value of the machine for each year under the double-declining-balance and sum-of-the-years-digits methods. For the double-declining-balance method, round the depreciation rate to two decimal places.
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