Question
Charmy Paisen uses the Composite Method in depreciating PPE. Composite rate is 12%. Cost of PPE were as follows: A- P125,000 ; B-170,000; and C-P180,000.
Charmy Paisen uses the Composite Method in depreciating PPE. Composite rate is 12%. Cost of PPE were as follows: A- P125,000 ; B-170,000; and C-P180,000. Salvage value were as follows: A- zero; B-10,000, and C-20,000. All assets are acquired on January 1, 2020.
In 2026, PPE-B is retired and sold for P5,000. How much is debited to accumulated depreciation for the said retirement?
In 2022, PPE-A is retired. How much is gain on disposal/retirement?
How much is depreciation expense 2020?
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Financial Accounting The Basics
Authors: Ilias Basioudis
1st Edition
1138605514, 9781138605510
