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  3. 3. an asset for drilling was purchased and place i

3. AN ASSET FOR DRILLING WAS PURCHASED AND PLACE IN SERVICE BY A PETROLEUM PRODUCTION...

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Accounting

3. AN ASSET FOR DRILLING WAS PURCHASED AND PLACE IN SERVICE BY A PETROLEUM PRODUCTION COMPANY. ITS INITIAL INVESTMENT IS P60,000 AND IT HAS AN ESTIMATED SV OF P12,000 AT THE END OF AN ESTIMATED USEFUL LIFE OF 14 YEARS. COMPUTE THE DEPRECIATION AMOUNT IN THE THIRD YEAR AND THE BV AT THE END OF 5TH YEAR OF LIFE BY EACH OF THESE METHODS: a. SL METHOD b. SF METHOD @ 5% PER YEAR c. DB METHOD d. DDB METHOD e. SYD METHOD

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