Find the salvage value of an asset which has FC of P150 000 and economic life of 7 years. Using the sum of the year's digits method the depreciation charge during the 5th year is P13 000. P28666.67 P25221.16 P29816.54

Find the salvage value of an asset which has FC of P150 000 and economic life of 7 years. Using the sum of the year's digits method the depreciation charge during the 5th year is P13 000. P28666.67 P25221.16 P29816.54

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 3EB: Montello Inc. purchases a delivery truck for $25,000. The truck has a salvage value of $6,000 and is...

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Question

Find the salvage value of an asset which has FC of P150 000 and economic life of 7
years. Using the sum of the year's digits method the depreciation charge during the 5th
year is P13 000.
P28666.67
O P25221.16
P29816.54
P23143.66

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Section 179 Deduction and Modified Accelerated Cost Recovery System (MACRS) Depreciation

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