Question
The following data relate to store equipment of Progress Company for 2020: 2019 2020 Store Equipment - Cost (2019)P 145,000 (2020)P 175,000 Accumulated Depreciation (2019)58,000
The following data relate to store equipment of Progress Company for 2020:
2019 2020
Store Equipment - Cost
(2019)P 145,000
(2020)P 175,000
Accumulated Depreciation
(2019)58,000
(2020)60,000
Store equipment costing P 30,000 was sold for P 21,000 resulting in a gain of P 3,000.
How much is the Depreciation Expense on store equipment for 2020 ?
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Auditing Cases An Interactive Learning Approach
Authors: Steven M Glover, Douglas F Prawitt
4th Edition
0132423502, 978-0132423502
