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ADJUSTING ENTRIES 02
Problem 1 – The company purchased equipment at a cost of 7,200. The estimated salvage value of this equipment was 600, and estimated useful life is 10 years.
The annual depreciation is:
Computation: (Annual) Computation: (Monthly Depreciation)
Problem 2 - A delivery truck was purchased for P25,000. It is estimated to last 10 years after which it shall have a value of P5,000. Compute for the depreciation.
Computation: (Annual) Computation: (Monthly Depreciation)
Problem 3 – The company purchased a building on April 1, 2011. The building cost 870,000 has an estimated 25-year life, and is not expected to have any salvage
value at the end of that time.
Computation: (Annual) Computation: (Monthly Depreciation)