Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Correct and all A company purchased a machine for Php200.000. It paid shipping costs of Php 15.000 and nonrccumng installation costs amounting to Phpl0.000. At

image text in transcribedCorrect and all
A company purchased a machine for Php200.000. It paid shipping costs of Php 15.000 and nonrccumng installation costs amounting to Phpl0.000. At the end of 3 years, the company had no further use of the machine, so it spent Php 10,000 to have the machine dismantled and was able to sell the machine for Php40,000. Ibe company had depreciated the machine on a sum of yean digit basis using an estimated life of 5 years and PI0,000 salvage value. (I) What is book value a; the end of year 3? Php 56,000 Php 70,000 none of the above Php 67.000 Php 141.000 What is the depreciation amount for year 3? Php 42.000 Php 40.000 none of the above b. Php 45.000 Php 41.000 By what amount did the sale of the equipment fail to cover the cost of the equipment? Php27,000 Php23,800 None of the above Php37,000 Phpl 8,800 ABC company is contemplating the purchase of a large stamping machinc which will cost Php200,000. With additional transportation and installation costs of Php5,000 and 10,000. Its market value at the end of 5 years is estimated at Php40.000. What is the accumulated depreciation of the stamping machinc at the end of year 3 using declining balance? 119.607.55 136,609.61 120.354.23 123,145.98 None of the above What is the accumulated depreciation of the stamping machinc at the end of year 3 using sum-of-year's digit? 52.000 124.000 130,000 91.000. None of the above What is the accumulated depreciation at the end of year 3 using sinking fund with an interest Degreef 10%? 93,0468.il 99.0789.55 94.879.69 81.536.89 none of the above What is the accumulated depreciation at the end of year 3 usihg straight line method? 83.0468.11 89.0789.55 129t00 101000 none of the above What is the accumulated depreciation at the end of year 3 usmg double declin balance method 83,0458.11 136,609.61 105,000 136,709.69 none of the above

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing A Modern Approach

Authors: Sanjay Basotia

1st Edition

938092903X, 978-9380929033

More Books

Students also viewed these Accounting questions