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1. [MO31] An ice cream machine costs P7,000 which is expected to last for 8 years with a salvage value of P100. Using the
1. [MO31] An ice cream machine costs P7,000 which is expected to last for 8 years with a salvage value of P100. Using the Straight Line Method of depreciation, what is its accummulated depreciation in the fifth year? Then, what will be its annual depreciation using the Sinking Fund Method assuming an interest rate of 4.5% compounded annually? (10 points)
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Financial Accounting in an Economic Context
Authors: Jamie Pratt
8th Edition
9781118139424, 9781118139431, 470635290, 1118139429, 1118139437, 978-0470635292
