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Compute the acquisition cost of the equipment

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Reference no: EM132957108

Question - On January 1, 2021 the Emming Corporation purchased some machinery.

The machinery has an estimated life of 10 years and an estimated residual value of P5, 000. The depreciation on this machinery was P20,000 in 2023.

Required - Compute the acquisition cost of the equipment under the following depreciation methods:

1. Straight-line

2. Sum-of-the-years'-digits

3. Double-declining-balance

Reference no: EM132957108

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