The price of a system of jockey pumps is P6,000,000. PLM decided to purchase this system and spent P215,500 for shipping and installation. The equipment will last for 10 years with a salvage value of 3% of its total cost. Determine the following: a. Yearly charge of depreciation using SL method. b. Respective depreciation charges on the 6th year and 8th year, and book value at the end of 8th year using SYD method
The price of a system of jockey pumps is P6,000,000. PLM decided to purchase this system and spent P215,500 for shipping and installation. The equipment will last for 10 years with a salvage value of 3% of its total cost. Determine the following: a. Yearly charge of depreciation using SL method. b. Respective depreciation charges on the 6th year and 8th year, and book value at the end of 8th year using SYD method
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 13PA: Colquhoun International purchases a warehouse for $300,000. The best estimate of the salvage value...
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