Supreme auto manufactures automobile spare components has bought a machine with value of P5,000,000. Life of the machine was 10 years and it has zero residual value. At the end of the fourth year the machine was revalued upwards by P200,000. The machine was depreciated with straight line method. Find fifth year depreciation amount for the machine if the remaining useful life of the machine was reassessed at 8th year.

Supreme auto manufactures automobile spare components has bought a machine with value of P5,000,000. Life of the machine was 10 years and it has zero residual value. At the end of the fourth year the machine was revalued upwards by P200,000. The machine was depreciated with straight line method. Find fifth year depreciation amount for the machine if the remaining useful life of the machine was reassessed at 8th year.

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Description: Supreme auto manufactures automobile spare components has bought amachine with value of P5,000,000. Life of the machine was 10 years and it haszero residual value.At the end of the fourth year the machine was revalued upwards by P200,000.The machine

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 1RE: Susquehanna Company purchased an asset at the beginning of the current year for 250,000. The...

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