Reference no: EM132737256
Problem 1: The net book value of the plant asset at the start of the year is P480,000. The depreciation rate is 2% per year. The net book value at the end of the year is P470,000. If there are no additions and disposals of assets, the acquisition cost of asset was ?
Problem 2: Assuming that net cost of purchases was 90,000 during the year and that ending merchandise inventory was 2,000 less than the beginning merchandise inventory of 25,000, how much was the cost of goods sold?
The following incomplete records are presented to you by nathan co.
net purchases 180,000.00
net sale 220,000.00
ending inventory 40,000.00
gross profit 70,000.00
Problem 3: Total goods available for sale would amount to?
The following incomplete records are presented to you by nathan co.
net purchases 180,000.00
net sale 220,000.00
ending inventory 40,000.00
gross profit 70,000.00
Problem 4: Ando Construction purchased a crane on January 1, 2025, for P410,000. At the time of purchase, the crane was estimated to have a life of 5 years and a residual value of P10,000. If Ando uses the straight-line method of depreciation, how much is the net book value at December 31, 2027?
Problem 5: Ando Construction purchased a crane on January 1, 2025, for P410,000. At the time of purchase, the crane was estimated to have a life of 5 years and a residual value of P10,000. If Ando uses the straight-line method of depreciation, what will be the depreciation expense for the crane in 2026?
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