Composite rate- 9.30%Composite life- 10.56 yearsThe company receives P40,000 upon retirement of the machinery at the end of 5th year, debited to accumulated depreciation is P2,510,000 (P2,550,000-40,000). Question:How much is the total carrying amount of the assets at the end of the 6th year? KASEPH/TEACHERS20day/jm/NEWN20CURRICULUM/12120AE/01%20lntermediate%20Acctg%202020N.2OVok201N20Conrado%20T%2Happy Company owned a power plant which consisted of thefollowing assets all acquired at the beginning of current year.ResidualvalueUseful lifein yearsCostBuildingMachineryEquipment6,100,0002,550,0001,030,000100,00050,00030,0002010

Name: Composite rate- 9.30%Composite life- 10.56 yearsThe company receives P
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Description: Composite rate- 9.30%Composite life- 10.56 yearsThe company receives P40,000 upon retirement of the machinery at the end of 5th year, debited to accumulated depreciation is P2,510,000 (P2,550,000-40,000). Question:How much is the total carrying amoun

Assets Cost Residual Value Depreciable Cost Useful Life Depreciation per year Carrying Value at 6th…

Business

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Happy Company owned a power plant which consisted of the following assets all acquired at the beginning of current year. Residual value Useful life Cost in years Building Machinery Equipment 6,100,000 2,550,000 1,030,000 100,000 50,000 30,000 20 10

Happy Company owned a power plant which consisted of the following assets all acquired at the beginning of current year. Residual value Useful life Cost in years Building Machinery Equipment 6,100,000 2,550,000 1,030,000 100,000 50,000 30,000 20 10

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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