On April 1, 2022 Brazil Company purchased and installed several furniture and fixtures items from a local furniture manufacturer and dealer under the terms 3/10, n/30. The invoice price of the furniture and fixtures was P2,200,000. Brazil settled the account on April 12, 2022. In addition, the company incurred freight and installation cost amounting to P5,000 and P8,000 respectively. Assuming an estimated useful life of 5 years and a 10% salvage value, what is the depreciation expense for the year 2022 under the double declining balance method?

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A:

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A: Calculate the annual depreciation under straight-line method.

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A: Depreciation is an accounting technique for distributing a tangible or fixed asset's cost over its…

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A: Purchase cost = P2,310,000 Transportation cost = P150,000

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A: Depreciation is a costing technique that allocates the cost of a tangible or physical asset's useful…

Q: Skysong Company purchased equipment for $199,200 on October 1, 2020. It is estimated that the…

A: Hi Student Since there are multiple subparts, we will answer only first three subparts. If you want…

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A: Note: No discount will be available since payment is made after 120 days.

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A: Depreciation: Depreciation means the reduction in the value of an asset over the life of the assets…

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Q: e A - The cash price of this machine was $38,000. Related expenditures included: sales tax $1,700,…

A: Depreciation Accounting

Q: Skysong Company purchased equipment for $199,200 on October 1, 2020. It is estimated that the…

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Q: 0 for a major overhaul to put the equipment in good running condition. The equipment  is available…

A: The journal entries is given as,

Q: Case E Sanders Company purchased the following on January 1, 2019: • Office equipment at a cost of…

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