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What is the depreciation expense of the building

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Reference no: EM132912155

Question - On December 31, 2014, WITT Inc. has a building which has a cost of P42,000,000 and carrying amount of P32,000,000. The building has a residual value of P2,000,000 and being depreciated using straight line method from its acquisition date on January 1, 2010. On January 1, 2015, WITT Inc. revised the useful life of the building by deducting 5 years from the original life and changed the salvage value to P7,000,000. What is the depreciation expense of the building for the year ended December 31, 2015?

Reference no: EM132912155

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