Problem 1: A civil engineer bought a crane for erecting tall buildings. It was invoiced from Japan (Cost, Insurance, freight) to Manila ay P 60, 000. Brokerage, custom's, permits and etc. total P 120,000. At the end of 10 years, he expects to sell it for P 70,000. Tabulate and determine the depreciation charge during the 4th year and the book value at the end of 6th year(show solution at these years) using the following:

Problem 1: A civil engineer bought a crane for erecting tall buildings. It was invoiced from Japan (Cost, Insurance, freight) to Manila ay P 60, 000. Brokerage, custom's, permits and etc. total P 120,000. At the end of 10 years, he expects to sell it for P 70,000. Tabulate and determine the depreciation charge during the 4th year and the book value at the end of 6th year(show solution at these years) using the following:

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 8PA: Referring to PA7 where Kenzie Company purchased a 3-D printer for $450,000, consider how the...

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