A machine costs of P 8,000 and an estimated life of 10 years with a salvage value of P 500. What is its book value after 8 years using straight line method ?

Related Mcqs:

Duopoly is a market situation where there is/are____________?

A. Few sellers and few buyers B. Few sellers and many buyers C. Many sellers and few buyers D. One seller and few buyers...

A sum of P1,000 is invested now and left for eight years, at which time the principal is withdrawn. The interest has accrued is left for another eight years. If the effective annual interest rate is 5%, what will be the withdrawal amount at the end of the 16th year ?

A. P693.12 B. P700.12 C. P702.15 D. P705.42...

In what method of computing depreciation where it assumes that the annual cost of depreciation is a fixed percentage of the book value at the beginning of the year ?

A. Straight line method B. Sinking fund method C. Sum-of-year digit method D. Declining balance method...

An association of two or more persons for the purpose of engaging into a business for profit is called ____________________?

A. Entrepreneurship B. Partnership C. Proprietorship D. Corporation...

The common ratio is the ratio of_______________?

A. Net credit sales to average net receivable B. Current assets to current liabilities C. Gross profit to net sales D. Net income to owner’s equity...