On Oct. 1, 2020, Shaw Company purchased a machine for P1,260,000 that was placed in service on Nov. 30, 2020. Shaw incurred additional costs of this machine as follows: Shipping - P30,000 Installation - P40,000 Testing - P50,000 The estimated useful life of the machine is 5 years and is to be depreciated using the straight-line method. What is the depreciable amount of the machine?
On Oct. 1, 2020, Shaw Company purchased a machine for P1,260,000 that was placed in service on Nov. 30, 2020. Shaw incurred additional costs of this machine as follows: Shipping - P30,000 Installation - P40,000 Testing - P50,000 The estimated useful life of the machine is 5 years and is to be depreciated using the straight-line method. What is the depreciable amount of the machine?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On Oct. 1, 2020, Shaw Company purchased a machine for P1,260,000 that was placed in service on Nov. 30, 2020. Shaw incurred additional costs of this machine as follows:
Shipping - P30,000
Installation - P40,000
Testing - P50,000
The estimated useful life of the machine is 5 years and is to be
What is the depreciable amount of the machine?
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