Spiderman Company owns a machine that was bought on January 1, 2005 for P3,760,000. The machine was estmated to have a useful life of five years and a residual value of P240,000. Spiderman uses the sum of years' digits method of depreciation. At the beginning of 2008, Spiderman determined that the total useful life of the machine should have been four years and the residual value is P352,000. For the year 2008, Spiderman should record depreciation expense on this amchine at a. 192,000 b. 444,000 c. 592,000 d. 704,000

Spiderman Company owns a machine that was bought on January 1, 2005 for P3,760,000. The machine was estmated to have a useful life of five years and a residual value of P240,000. Spiderman uses the sum of years' digits method of depreciation. At the beginning of 2008, Spiderman determined that the total useful life of the machine should have been four years and the residual value is P352,000. For the year 2008, Spiderman should record depreciation expense on this amchine at a. 192,000 b. 444,000 c. 592,000 d. 704,000

Name: Spiderman Company owns a machine that was bought on January1, 2005 fo
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Description: Spiderman Company owns a machine that was bought on January1, 2005 for P3,760,000. The machine was estmated to have a usefullife of five years and a residual value of P240,000. Spiderman usesthe sum of years' digits method of depreciation. At the be

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter22: Accounting For Changes And Errors.

Section: Chapter Questions

Problem 11E: On January 1, 2014, Klinefelter Company purchased a building for 520,000. The building had an...

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