Montblanc Company started its business operation on June 1, 2019 and showed the following data regarding the Fixed Assets as of December 31, 2020. - Office Equipment bought for P 120,000 on August 1, 2019, estimated useful life 6 years with no salvage value • Delivery Equipment with a depreciable cost of P 240,000, salvage value of P 30,000, with estimated useful life of 8 years. This was purchased on May 31, 2020. The company has a calendar year accounting period and uses the straight line method for depreciation to all its Fixed Assets. How much is the adjusted balance of the accumulated depreciation of the Delivery Equipment as at December 31, 2022?
Montblanc Company started its business operation on June 1, 2019 and showed the following data regarding the Fixed Assets as of December 31, 2020. - Office Equipment bought for P 120,000 on August 1, 2019, estimated useful life 6 years with no salvage value • Delivery Equipment with a depreciable cost of P 240,000, salvage value of P 30,000, with estimated useful life of 8 years. This was purchased on May 31, 2020. The company has a calendar year accounting period and uses the straight line method for depreciation to all its Fixed Assets. How much is the adjusted balance of the accumulated depreciation of the Delivery Equipment as at December 31, 2022?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Montblanc Company started its business operation on June 1, 2019 and showed the following data regarding the Fixed Assets as of December 31, 2020.
- Office Equipment bought for P 120,000 on August 1, 2019, estimated useful life 6 years with no salvage value
• Delivery Equipment with a
The company has a calendar year accounting period and uses the
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