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10 to 13. Give the entries using the chart of accounts 10 to 13 On January 1, 2019, the Philippine Rabbit Bus Co. purchased 20
10 to 13. Give the entries using the chart of accounts
10 to 13 On January 1, 2019, the Philippine Rabbit Bus Co. purchased 20 buses at a total cost of P100,000,000 The buses have an average useful life of 5 year and the group method of depreciation is applied. The buses are retired as follows: No of Bus Salvage Proceeds Dec 31, 2022 5 P5,000,000 Dec 31, 2023 15 12,000,000 10. How much is the depreciation for 2019? 11. Give the entry to record retirement of 5 buses on Dec. 31, 2022. 12. How much is the depreciation for 2023? 13. Give the entry to record retirement of 15 buses on Dec. 31, 2023. Chart of Accounts: A Cash B Bus C Accumulated Depreciation-Bus Step by Step Solution
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