Question
need this asap. will upvote thanks! 1. NTC purchased new equipment on January 1, 2014. The equipment cost P12,000, had an estimated useful life of
need this asap. will upvote thanks!
1. NTC purchased new equipment on January 1, 2014. The equipment cost P12,000, had an estimated useful life of four years, and a residual value of P400. Using 200 percent declining balance depreciation, the depreciation expense recorded at the end of 2015 should be:
a. 2, 250 b. 3,000 c. 2, 900 d. 2, 100
2. ABS purchased new equipment on January 1, 2014. The equipment cost P4,400, had an estimated useful life of four years, and a residual value of P200. Using sum-of-the-years-digits depreciation, the depreciation expense recorded at the end of 2015 should be:
a. 1, 260 b. 1, 120 c. 1, 320 d. 1, 680
3. Entity A purchased P890,000 worth of equipment in January 1, x1. The equipment has a useful life of 10 years and a residual value of P90,000. Entity A uses the straight-line method of depreciation. How much are the depreciation expense in 20x1 and the carrying amount of the equipment on December 31, 20x2. respectively? [Depreciation Expenses: Carrying amount]
a. 80,000 ; 580; 000 b. 80,000 ; 640,000 c. 80,000 ; 810,000 d. 80,000 ; 730,000
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