Question

The company acquired equipment on April 1, 2009, costing P150,000. The asset have estimated useful life of five (5) years with P10,000 residual value. Assuming calendar year, what is the book value of the equipment as of April 01, 2014 or after the 5 years useful life?

Name: the company acquired equipment on april 1 2009 costing p150000 the asset have estimated useful life of five 5 years with p10000 residual value assuming calendar year what is the book value o 73927
Uploaded: 2022-06-06T09:24:09-08:00
Duration: 1 min 17 s
Channel: Lourence Gonhovi
Description: the company acquired equipment on april 1 2009 costing p150000 the asset have estimated useful life of five 5 years with p10000 residual value assuming calendar year what is the book value o 73927

          The company acquired equipment on April 1, 2009, costing P150,000. The asset have estimated useful life of five (5) years with P10,000 residual value. Assuming calendar year, what is the book value of the equipment as of April 01, 2014 or after the 5 years useful life?

Added by Cindy S.

Horngren’s Cost Accounting

Srikant M. Datar, Madhav V. Rajan 16th Edition

Instant Answer

Solved by Expert Lourence Gonhovi

06/06/2022

Step 1

Annual Depreciation = (Cost of Equipment - Residual Value) / Useful Life Annual Depreciation = (P150,000 - P10,000) / 5 Annual Depreciation = P28,000 Show more…

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The company acquired equipment on April 1, 2009, costing P150,000. The asset have estimated useful life of five (5) years with P10,000 residual value. Assuming calendar year, what is the book value of the equipment as of April 01, 2014 or after the 5 years useful life?