Question
On January 1,2017, Flair Company purchased a machine for P2,640,000 and depreciated it by the straight line using an estimated useful life of 8years with
On January 1,2017, Flair Company purchased a machine for P2,640,000 and depreciated it by the straight line using an estimated useful life of 8years with no residual value.
On January 1,2020,the entity determined that the machine had a useful life of 6years form the date of acquisition with a residual value of P240,000.
What is the accumulated depreciation on Decembet 31,2020?
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Managerial Accounting
Authors: Karen BraunWendy Tietz
3rd Edition
0132890542, 978-0132890540
