(Last Updated On: January 9, 2020)
Problem Statement: ME Board April 1998
An asset is purchased for P500,000.00. The salvage value in 25 years is P100,000.00. What is the total depreciation in the first three years using straight-line method?
- A. P45,000.00
- B. P46,000.00
- C. P47,000.00
- D. P48,000.00
Problem Answer:
The total depreciation in the first three years using straight-line method is P48,000.00.
Solution:
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