On July 1, 2004, Gonzalez Corporation purchased factory equipment for P450,000. Salvage value was estimated to be P12,000. The equipment will be depreciated over ten years using the double-declining- balance method. Counting the year of acquisition as one-half year, Gonzalez should record depreciation expense for 2005 on this equipment of P90,000 P78,840 P81,000

On July 1, 2004, Gonzalez Corporation purchased factory equipment for P450,000. Salvage value was estimated to be P12,000. The equipment will be depreciated over ten years using the double-declining- balance method. Counting the year of acquisition as one-half year, Gonzalez should record depreciation expense for 2005 on this equipment of P90,000 P78,840 P81,000

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Description: On July 1, 2004, Gonzalez Corporation purchased factory equipment for P450,000. Salvage value wasestimated to be P12,000. The equipment will be depreciated over ten years using the double-declining-balance method. Counting the year of acquisition as

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter11: Depreciation, Depletion, Impairment, And Disposal

Section: Chapter Questions

Problem 8MC: On July 1, 2018, Mundo Corporation purchased factory equipment for 50,000. Residual value was...

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