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Question 21 On January 1, 2018, Australia Company purchased equipment worth P 725,000 with an...

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Question 21 On January 1, 2018, Australia Company purchased equipment worth P 725,000 with an estimated residual value of P 25,000 and an expected useful life of eight years. Required: Using double-declining method of depreciation, compute for the following: 1. Depreciation expense for 2018 - 2. Depreciation expense for 2019 - 3. Net book value as of December 31, 2019

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