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What is the depreciation expense for london company

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Reference no: EM132788115

On January 1,2019, London Company purchased a large quantity of personal computers. The cost of these computers was P6,000,000.

  • On the date of purchase, tge management estimated that the computers would last approximately four years and would have a residual value at that time of P600,000.The entity used the double declining balance method.
  • During January 2020,the entity realized that technological advancements had made the computers virtually obsolete and that they would have be replaced.
  • The management changed the remaining useful life of the computers to two years.

Problem 1: What is the depreciation expense for 2020?

Reference no: EM132788115

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