Question
3. An equipment was bought for P30,000 six years ago. It will have a salvage value of P3,000 four years from now. It is sold
3. An equipment was bought for P30,000 six years ago. It will have a salvage value of P3,000 four years from now. It is sold now for P8,000. What is the total depreciation and the book value now? Use Sinking Fund Method at 6%?
4. An equipment cost P7,350 has a life of 8 years and has a salvage value of P350 at the end of 8 years. Determine its book value at the end of 4 years using Constant-Percentage of Declining Value.
5. A machine costs P7000 has a life of 8 years and salvage value of "A" after 8 years, If the book value of the equipment at the 4th year is equal to P2197.22. Compute the salvage value "A" using the sum of the years digit method.
Note: Use only two decimal places for the final answer and four decimal places for the solutions. Answer the problem with the given Format: Given, Required, Solution, Answer. Thank you so much!
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