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BASTA Corporation acquired a plant asset at the beginning of 2018. The asset has an estimated useful life of 10 years. The December 31, 2020
BASTA Corporation acquired a plant asset at the beginning of 2018. The asset has an estimated useful life of 10 years. The December 31, 2020 Statement of Financial Position will report P907, 500 of Accumulated Depreciation if Straight line method is used to depreciate the asset while P1, 830, 000 of Accumulated Depreciation if Double-Declining- Balance Method is used. Compute 1. Cost of the Asset 2. Salvage value of the asset
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