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Compute what amount reported as accumulated depreciation

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Problem 1: Turtle company purchased equipment on January 1,2018 for P5,000,000. The equipment had an estimated 5years service life. The policy for 5year assets is to use the 200% double declining balance method for the first two years and then switch to the straight line depreciation. What amount should be reported as accumulated depreciation on December 31,2020?

Reference no: EM132730890

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