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What will be carrying amount of the machine as of december

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Problem 1: Apple Co. purchased a machine on January 1, 2019, for P180,000 cash. The machine has an estimated useful life of 4 years and a salvage value of P47,000. The company uses the double-declining-balance method of depreciation for all its assets. What will be the carrying amount of the machine as of December 31, 2020?

a. P51,000
b. P47,000
c. P45,000
d. P43,000
e. None of the choices

Reference no: EM132891111

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