The AVP Company purchased for P 240,000 cash on July 1, 2016 a machine with an estimated useful life of 10 years and an estimated residual value of P 12,000. Depreciation was recorded using the straight-line method. The machine was sold for P 130,000 on September 30, 2021. 1. The depreciation expense to be recorded in 2021 : 2. the sale resulted in a: 3. the journal entry to record the sale of machine: For 47 : A summary of the property, plant and equipment owned by SUN Manufacturing Companv is presented below: 4. the composite life of the asset listed above is: a) 34.5 years b) 32.8 years c) 31.6 years d) 29.5 years 5. what is the composite rate of the assets listed? a) 3.83% b) 3.81% c) 3.38% d) 3.18% 6. using straight-line method of depreciation for factory building, the depreciation on the third year of its service life is: a) P120,000 b) P118,500 c) P115,500 d) P112,500 7. Using the sum of years digits method for small tools, the depreciation on the third year of its service life is: a) 17,110 b) P14,972 c) P12,833 d) P10,694 The AVP Company purchased for P 240,000 cash on July 1, 2016 a machine with an estimated useful life of 10 years and an estimated residual value of P 12,000. Depreciation was recorded using the straight-line method. The machine was sold for P 130,000 on September 30, 2021. 1. The depreciation expense to be recorded in 2021 : 2. the sale resulted in a: 3. the journal entry to record the sale of machine: For 47 : A summary of the property, plant and equipment owned by SUN Manufacturing Companv is presented below: 4. the composite life of the asset listed above is: a) 34.5 years b) 32.8 years c) 31.6 years d) 29.5 years 5. what is the composite rate of the assets listed? a) 3.83% b) 3.81% c) 3.38% d) 3.18% 6. using straight-line method of depreciation for factory building, the depreciation on the third year of its service life is: a) P120,000 b) P118,500 c) P115,500 d) P112,500 7. Using the sum of years digits method for small tools, the depreciation on the third year of its service life is: a) 17,110 b) P14,972 c) P12,833 d) P10,694