0,000 per year. Wh
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
Chapter11: Depreciation, Depletion, Impairment, And Disposal
Section: Chapter Questions
Problem 2MC: Vorst depreciates Asset A on the double-declining-balance method. How much depreciation expense...
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Question
An asset that is book-depreciated over a 5-year period by the straight line method has C3 = P 2,800,000 with a depreciation charge of P1,170,000 per year. What is the first cost of the asset using straight line method?
a.) P1,630,000
b.) P6,310,000
c.) P3,500,000
d.) P3,970,000
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