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From (c) above, calculate profit or loss on the disposal of the property. (8) On January 2017, Hideit Pharmacy bought machinery for P48,000. It was
- From (c) above, calculate profit or loss on the disposal of the property. (8)
- On January 2017, Hideit Pharmacy bought machinery for P48,000. It was decided that this machinery should be depreciated using the straight-line method over a period of 10 years with an estimated residual value of P4,000. On 1 January 2019, the directors decided to change the method of depreciation for the remaining life of the asset to 25% reducing balance. Calculate the depreciation charge for the year ended 31 December 2019. (8)
- From (c) above, calculate profit or loss on the disposal of the property. (8)
- On January 2017, Hideit Pharmacy bought machinery for P48,000. It was decided that this machinery should be depreciated using the straight-line method over a period of 10 years with an estimated residual value of P4,000. On 1 January 2019, the directors decided to change the method of depreciation for the remaining life of the asset to 25% reducing balance. Calculate the depreciation charge for the year ended 31 December 2019. (8)
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Auditing and Assurance Services A Systematic Approach
Authors: William Messier Jr, Steven Glover, Douglas Prawitt
10th edition
77732502, 978-0077732509
