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A machine has a first cost of P88,155.25 and has an expected salvage value after 10 years P10,772.58. Find the book value after 8 years using declining balance method.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A machine has a first cost of P88,155.25 and has an expected salvage value after 10
years P10,772.58. Find the book value after 8 years using declining balance method.

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