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What amount of depreciation should be recorded

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Question - An entity takes a full year depreciation in the year of acquisition and no depreciation in the year of disposition. Data relating to a depreciable asset on December 31, 2018 are cost P5,500,000 residual value P1,000,000, accumulated depreciation P3,600,000 and useful life 5 years. The asset was acquired on July 1, 2016. Using the same depreciation method in 2016, 2017 and 2018, what amount of depreciation should be recorded in 2019?

Reference no: EM132944262

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