The Vladimir Corporation purchased an equipment on January 1, 2020. The machine cost P 92,000, with an estimated salvage value of P 4,000 and an estimated useful life of 10 years. As a result of technological improvements, a revision of the machine's useful life and estimated salvage value was made. On January 1, 2021, the equipment was estimated to last through 2022, with an estimated value at the end of 2022 of P 1,000. Potter uses the straight-line depreciation method. What is the revised depreciation in year 2021? select the correct answer below a. 41,600 b. 42,100 c. 44,000 d. 8,800
The Vladimir Corporation purchased an equipment on January 1, 2020. The machine cost P 92,000, with an estimated salvage value of P 4,000 and an estimated useful life of 10 years. As a result of technological improvements, a revision of the machine's useful life and estimated salvage value was made. On January 1, 2021, the equipment was estimated to last through 2022, with an estimated value at the end of 2022 of P 1,000. Potter uses the straight-line depreciation method. What is the revised depreciation in year 2021? select the correct answer below a. 41,600 b. 42,100 c. 44,000 d. 8,800
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
Chapter10: Property, Plant And Equipment: Acquisition And Subsequent Investments
Section: Chapter Questions
Problem 6RE
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The Vladimir Corporation purchased an equipment on January 1, 2020. The machine
cost P 92,000, with an estimated salvage value of P 4,000 and an estimated useful life
of 10 years. As a result of technological improvements, a revision of the machine's
useful life and estimated salvage value was made. On January 1, 2021, the equipment
was estimated to last through 2022, with an estimated value at the end of 2022 of P
1,000. Potter uses the straight-line depreciation method.
What is the revised depreciation in year 2021? select the correct answer below
a. 41,600
b. 42,100
c. 44,000
d. 8,800
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