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How much is the depreciation expense for bts co

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Problem 1: On December 31, 2020, BTS Co. had delivery equipment in the total cost of P1,000,000.00 and accumulated depreciation of P500,000.00. This is being depreciated using the straight line method and with an estimated useful life of 10 years. On December 31, 2021, a six year old delivery equipment with an original cost of P200,000.00 was traded in for a brand new delivery equipment in the amount of P400,000.00. This new equipment is also depreciated using the straight line method and has a useful life of 10 years. How much is the depreciation expense on 2022?

Reference no: EM132999061

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