Reference no: EM132956512
Gentleness Company takes a full year's depreciation in the year of an assets acquisition, and no depreciation in the year of disposition. Data relating to one depreciable asset acquired in 2019, with residual value of P900,000 and estimated useful life of 8 years, at December 31, 2020 are:
Cost P9,900,000
Accumulated depreciation 4,331,250
Problem 1: Using the same depreciation method in 2019 and 2020, how much depreciation should Gentleness record in 2021 for this asset?
A. P1,392,188 C. P1,856,250
B. P1,500,000 D. P2,475,000
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