Question
SooYoung Industries presents you with the following information. Description Date Purchased Cost Residual Value Life in Years Depreciation Method Accumulated Depreciation to 12/31/19 Depreciation for
SooYoung Industries presents you with the following information.
Description | Date Purchased | Cost
| Residual Value | Life in Years | Depreciation Method | Accumulated Depreciation to 12/31/19 | Depreciation for 2020 |
Machine A | 2/12/18 | P159,000 | P16,000 | 10 | ( a ) | P37,700 | (b) |
Machine B | 8/15/17 | ( c ) | 21,000 | 5 | SL | DDB | (d) |
Machine C | 7/21/16 | 88,000 | 28,500 | 8 | DDB | (e) | (f) |
Machine D | 10/12/(g) | 219,000 | 69,000 | 5 | SYD | 70,000 | (h) |
Instructions
Complete the table for the year ended December 31, 2020. The company depreciates all assets using the half-year convention. (Find a to h)
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Intermediate Accounting IFRS
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
3rd edition
1119372933, 978-1119372936
