An equipment cost P67,000 and has a life of 10 years and salvage value of P53,500. Determine its book value at the end of 8 years by Declining Balance Method. a. 55,962.61 b. 56,731.35 c. 54, 659.05 d. 55, 694.35

An equipment cost P67,000 and has a life of 10 years and salvage value of P53,500. Determine its book value at the end of 8 years by Declining Balance Method. a. 55,962.61 b. 56,731.35 c. 54, 659.05 d. 55, 694.35

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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Question

An equipment cost P67,000 and has a life of 10 years and salvage value of P53,500. Determine its book value at the end of 8 years by Declining Balance Method.

a. 55,962.61

b. 56,731.35

c. 54, 659.05

d. 55, 694.35

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