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How much is total accumulated depreciation to be reported

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On January 1, 2016, NCT Corporation bought a factory equipment for P924,000 salvage value was estimated at P24,000. The asset will be depreciated over 10 years using the double declining balance method.

Problem 1: How much is the total accumulated depreciation to be reported in the balance sheet on December 31, 2021?

Reference no: EM132996023

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