What was the acquisition cost of the equipment

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Reference no: EM133344954

Question: On January 2, 2017, Stacy Company acquired equipment to be used in its manufacturing operations. The equipment has an estimated useful life of 10 years and an estimated residual value of P15,000. The depreciation applicable to this equipment was P63,636 for 2020, computed under the sum-of-the-years'-digits method. What was the acquisition cost of the equipment? 515,000 24. On January 1, 2016, Indians Corporation bought a factory equipment for P924,000 salvage value was estimated at P24,000. The asset will be depreciated over 10 years using the double declining balance method. How much is the total accumulated depreciation to be reported in the balance sheet on December 31, 2021?

Reference no: EM133344954

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