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Answer from problem 1 to problem 4. Show step by step and detailed solution or much better with explanation. Problem 1 Gianina Company takes a

image text in transcribed Answer from problem 1 to problem 4. Show step by step and detailed solution or much better with explanation.

Problem 1 Gianina Company takes a full year's depreciation in the year of an assets acquisition, and no depreciation in the year of disposition. Data relating to one depreciable asset acquired in 2003, with residual value of P900,000 and estimated useful life of 8 years, at December 31, 2004 are: Cost 9,900,000 Accumulated depreciation 3,750,000 Using the same depreciation method in 2003 and 2004, how much depreciation should Gianina record in 2005 for this asset? A. 1,125,000 C. 1,650,000 B. 1,250,000 D. 1,500,000 Problem 2 On January 1, 2000 Vladimir Company purchased a machine for P4,800,000 and depreciated it by the straight line method using an estimated useful life of 8 years with no salvage value. On January 1, 2003, Vladimir determined that the machine had a useful life of 6 years from the date of acquisition and will have a salvage value of P150,000. An accounting change was made in 2003 to reflect these additional data. What should be the accumulated depreciation on December 31, 2003? A. 2,750,000 C. 1,000,000 B. 2,800,000 D. 900,000 Problem 3 On October 1, 2018, Miami Company bought machinery under a contract that required a down payment of P500,000 plus 12 monthly payments of P300,000 for total payments of P4,100,000. The cash price of the machinery was P3,800,000. The machinery has an estimated useful life of five years and residual value of P200,000. Daryl uses the SYD method of depreciation. In its 2019 income statement, what amount should Daryl report as depreciation for this machinery? Problem 4 LA Company purchased a boring machine on January 1, 2019 for P8,100,000. The useful life of the machine is estimated at 3 years with a residual value at the end of this period of P600,000. During its useful life, the expected units of production from the machine are 10,000 units for 2019; 9,000 units for 2020 and 6,000 units for 2021. What is the depreciation expense for 2020 using the most appropriate depreciation method

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