Solution-Calculate the depreciation expense on the factory

Calculate the depreciation expense on the factory building

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A summary of the property, plant and equipment owned by the entity is presented below:

	Factory building	Machinery & equipment	Small tools	Patterns
Total cost	P4,800,000	P1,400,000	P82,000	P53,000
Est. residual value	300,000	80,000	5,000	nil
Est. useful life	40 yrs.	20 yrs.	8 yrs.	4 yrs.

Question 1: Calculate the depreciation expense on the factory building in 20X1 and 20X2 under the straight-line method. Assume that the factory building was purchased on April 1, 20X1.

Question 2: Calculate the depreciation expense on the machinery and equipment in 20X2 under the double-declining balance method.

Question 3: Calculate the depreciation expense on the factory building in 20X3 (third year of service life) under the SYD method. Assume that the factory building was purchased on January 1, 20X1.

Reference no: EM132677584

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Calculate the depreciation expense on the factory building

Reference no: EM132677584

Reference no: EM132677584

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