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What is the asset depreciation expense for dec

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Reference no: EM133114649

Question - The following data relate to a piece of equipment owned by Philippines Company.

Acquisition date - July 1, 2019

Cost - P125,000

Estimated residual value - P5,000

Estimated service life - 5 years

Estimated service hours - 10,000

Estimated productive outputs in units - 24,000

1. Under the straight-line method, what is the asset's depreciation expense for Dec. 31, 2019?

A. P25,000

B. P24,000

C. P12,500

D. P12,000

2. Under the SYD method, what is the depreciation expense for the year ended Dec. 31, 2020?

A. P40,000

B. P37,500

C. P36,000

D. P32,000

3. Under the double-declining balance method, what is the carrying value at December 31, 2021?

A. P36,0000

B. P34,560

C. P27,000

D. P24,000

Reference no: EM133114649

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