please answer with full explanation computation describe each and every step1. A company bought a telecommunication equipment for P280,000. Other expenses including installation amount to P35,000. The equipment is set tohave 12 years with the salvage value at the end of life of P23,000.Determine the depreciation charge during the 5th year and the book value at the end of the 8th years by(d) double declining balance method and(e) SYD method.

Several methods are used for charging of depreciation like straight line method, double declining…

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Accounting

lecommunication Ivage value at the on charge during t

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 3RE: Albany Corporation purchased equipment at the beginning of Year 1 for 75,000. The asset does not...

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Concept explainers

Contingent Liabilities and Provisions

A contingent liability can be defined as a liability the occurrence of which is dependent upon the happening of an uncertain future event. It is generally recorded in the books only when the amount of liability can be reasonably estimated and the contingency is likely to occur shortly.

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please answer with full explanation computation describe each and every step
1. A company bought a telecommunication equipment for P280,000. Other expenses including installation amount to P35,000. The equipment is set to
have 12 years with the salvage value at the end of life of P23,000.
Determine the depreciation charge during the 5th year and the book value at the end of the 8th years by
(d) double declining balance method and
(e) SYD method.

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