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Answer the following problems and show the complete solution. 3-Straightline Depreciation. On April 1, 2021 EXD Company acquired a machinery for P900000. Additional cost paid
Answer the following problems and show the complete solution.
3-Straightline Depreciation. On April 1, 2021 EXD Company acquired a machinery for P900000. Additional cost paid are the following: 50,000 Cost of training employees who will operate the machine 20,000 freight and 70,000 installation and testing cost. It was estimated that the useful life of the machine is 6 years with a residual value of 30,000. How much is the depreciation expense on December 31, 2022? Your answer 43traightline Depreciation. On April 1, 2021 EXO Company acquired a machinery for P900,000. Additional cost paid are the following: 50,000 Cost of training employees who will operate the machine 20,000 freight and 70,000 installation and testing cost. It was estimated that the useful life of the machine is 6 years with a residual value of 30,000. How much is the carrying amount of the machine on December 31, 2022'? Your answer 5.8YD method. On January 1,2021 EXO company acquired a machine with an estimated useful life of 4 years. EXO paid P90,000 for the machine. Additional costs paid are the following: Freight and insurance 30,000, Cost of testing and installation 20,000 , commission paid to acquire the machine 25,000 and 25000 for the safety rail surrounding the machine. It was estimated that the residual value of the machine is 20,000. How much is the depreciation expense to be recorded on December 31, 2021? Your answer 6.8YD method. (in January 1,2021 EXO company acquired a machine with an estimated useful life of 4 years. EXO paid P90,000 for the machine. Additional costs paid are the following: Freight and insurance 30,000, Cost of testing and installation 20,000 , commission paid to acquire the machine 25,000 and 25000 for the safety rail surrounding the machine. It was estimated that the residual value of the machine is 20,000. How much is the depreciation expense to be recorded on December 31, 2022? Your answer 7.SYD method. On January 1, 2021 EXO company acquired a machine with an estimated useful life of 4 years. EXO paid P90,000 for the machine. Additional costs paid are the following: Freight and insurance 30,000, Cost of testing and installation 20,000 , commission paid to acquire the machine 25,000 and 25000 for the safety rail surrounding the machine. It was estimated that the residual value of the machine is 20,000. How much is the Carrying amount of the machine to be recorded on December 31, 2022? Your answer 8,Double declining baiance method. On January 1, 2021 EXO company acquired a machine with an estimated useful life of 4 years. EXO paid P9 0,000 for the machine. Additional costs paid are the following: Freight and insurance 30,000, Cost of testing and installation 20,000 , commission paid to acquire the machine 25,000 and 25000 for the safety rail surrounding the machine. It was estimated that the residual value of the machine is 20,000. How much is the depreciation expense to be recorded on December 31, 2021 Your answer 1. Straight-line Method. [in January 'I, 2021 EXO Company acquired a [and for P2,000,000. In addition the company paid 10,000 for grading and leveling, special assessment of 25,000. How much is the depreciation expense on December 31, 2021? Your answer 2.8traightline Depreciation. On April 1, 2021 EXO Company acquired a machinery for P900000. Additional cost paid are the following: 50,000 Cost of training employees who will operate the machine 20,000 freight and 70,000 installation and testing cost. It was estimated that the useful life of the machine is 6 years with a residual value of 30,000. How much is the depreciation expense on December 31, 2021? YourStep by Step Solution
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