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a. straight line method depreciation charge: Php 6650 book value: Php 3350 b. sinking fund method at 4% interest depreciation charge: Php 6249.64 book value: Php 3750.36

a. straight line method depreciation charge: Php 6650 book value: Php 3350 b. sinking fund method at 4% interest depreciation charge: Php 6249.64 book value: Php 3750.36

FINANCIAL ACCOUNTING
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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An equipment costs Php 10,000 with a salvage value of Php 500 at the end of 10 years. Calculate the total depreciation charge and book value at the end of 7 years using: a. straight line method depreciation charge: Php 6650 book value: Php 3350 b. sinking fund method at 4% interest depreciation charge: Php book value: Php 3750.36 c. declining balance method depreciation charge: Php 8771.77 book value: Php 1228.23 6249.64 d. double declining balance method depreciation charge: Php 7902.85 book value: Php 2097.15 e. sum of the year's digit method depreciation charge: Php book value: Php
Transcribed Image Text:An equipment costs Php 10,000 with a salvage value of Php 500 at the end of 10 years. Calculate the total depreciation charge and book value at the end of 7 years using: a. straight line method depreciation charge: Php 6650 book value: Php 3350 b. sinking fund method at 4% interest depreciation charge: Php book value: Php 3750.36 c. declining balance method depreciation charge: Php 8771.77 book value: Php 1228.23 6249.64 d. double declining balance method depreciation charge: Php 7902.85 book value: Php 2097.15 e. sum of the year's digit method depreciation charge: Php book value: Php
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