Problem 31-12 (IAA) On January 1, 2019, Layman Company purchased pe omputers for P6,000,000. The mouters would last approximately 4 years with re ne management estimated that the value of P600,000. The en entity used the double declining balance "pany purchased personal mately 4 years with residual method. During January 2020. + technological advancement had made the computers vircuany 120, the management realized that obsolete and proposed changing the remaining useful life to 2 years. What amount of depreciation should be recognized for 2020? a. 3,000,000 b. 2,400,000 c. 1,500,000 d. 1,200,000 Problem 31-13 (IAA) Spiderman Company purchased a machine on January 1, 2016 for P3, 760,000. The machine was estimated to have a useful life of five years and a residual value of P240.000. The entity used the sum of years' digits method of depreciation. At the beginning of 2019, the entity determined that the total useful life of the machine should have been four years and the residual value is P352,000. What amount should be recorded as depreciation for 2019? a. 192,000 b. 444,000 c. 592,000 d. 704,000 Problem 31-14 (IAA) Superman Company acquired a machine on January 1, 2017 for P10,000,000. The machine had an 8-year useful life with a P1,000,000 residual value and was depreciated using the sum of years' digits method. In January 2019, the entity estimated that the asset's useful life from the date of acquisition should have been 6 years and the residual value is P400,000. What is the accumulated depreciation on December 31, 2019? a. 5,212,500 b. 6,090,000 c. 4,400,360 d. 6,250,000