An asset is purchased for P 9,000.00. Its estimated economic life is 10 years after which it will be sold for P 1,000.00. Find the depreciation in the first three years using sum-of-years digit method____________________?

Related Mcqs:

“When one of the factors of production is fixed in quantity or is difficult to increase, increasing the other factors of production will result in a less than proportionate increase in output”. This statement is known as the______________?

A. Law of diminishing return B. Law of supply C. Law of demand D. Law of supply and demand...

A man invested P110,000 for 31 days. The net interest after deducting 20% withholding tax is P890.36. Find the rate of return annually?

A. 11.50 % B. 11.75 % C. 11.95 % D. 12.32 %...

Shell Philippines, a multinational company, has a total gross income for a particular year of P 50,000,000. The taxable income after taking all deductions except for depletion is P 18,500,000. What is the allowable depletion allowance for that particular year? Take percentage of gross income for oil as 22%?

A. P 9,358.41 B. P 9,228.45 C. P 9,250.00 D. P 9,308.45...

A mathematical expression also known as the present value of annuity of one is called ____________________?

A. Load factor B. Demand factor C. Sinking fund factor D. Present worth factor...

What refers to the residual value of a company’s assets after all outside liabilities (shareholders excluded) have been allowed for ?

A. Dividend B. Equity C. Return D. Par value...