Reference no: EM132969682

Questions -

Q1. The following information applied to Ashford Corporation for 2020;

Merchandise purchase for resale Php 400,000.00

Freight-In 10,000.00

Freight-Out 5,000.00

Purchase Returns 2,000.00

What is Ashford Company's inventoriable cost for 2020?

Q2. Bartoli Corporation acquired an equipment used in their production operations in 2015 for Php 150,000. The devaluated price of such equipment is Php 3,000. The company wanted to determine the depreciation expense this year 2020. What is the depreciated value of the equipment?

Q3. A company that engages in pressure filling of heavy-viscosity materials purchased a unit of of equipment six years ago for Php 28,000. The equipment was purchased with borrowed money of which Php 4,500 remains to be paid. The asset's present value is Php 3,100 and its book value is Php 7,000. What annual average depreciation expense has the company experience with this equipment during the past six weeks?