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Question 1: Ferguson Company purchased a depreciable asset for P100,000. The estimated residual value is P10,000, and the estimated useful life is 10 years. The straight-line method will be used for depreciation. What is the depreciation base of this asset?
Select one:
Option a. P9,000
Option b. P90,000
Option c. P100,000
Option d. P10,000
You purchased a new car that costs 10,000. You signed a six month 20% installment note payable for the cost of the car. The car has an estimated useful life of 3 years the residual salvage value is 200. Write a journal entry.
At that job he earned $17 for each manicure he did, he worked four days a week for 8.5 hours each day. And he gave 22 manicures a week on average.
Most decisions made by management impact the ratios analysts use to evaluate performance.
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