Computation of Depreciation Expense & Doubtful Expense

On January 1, 2023, a company purchases a delivery truck for Php40,000 with an estimated useful life of 5 years and a salvage value of Php5,000. Compute the depreciation for the year.

06/31/2023 Purchased a washing machine for 30,000, salvage value of 2,000 and a useful life of 5 years. Compute depreciation for the year 2023.

The outstanding accounts receivable from various customers is in the amount of Php100,000. At the end of its accounting period, it is estimated that 4% of this, is doubtful of collection. Compute the estimated uncollectible amounts.

On January 1, 2023, Mia bought a set of computer desktop worth 50,000. The residual value is 5% of its price with 10 years of estimated useful life.

Jobeez Business has an outstanding accounts receivable from its clients in the amount of Php300,000. At the end of its accounting period, it is estimated that 2% of this, is doubtful of collection.

On December 1, 2023, Metro Davao Commercial acquired sofa set for office use costing Php 70,000. Freight paid was Php5,000. The estimated useful life is 5 years. Depreciation expense for the year is

On January 1, 2023, Metro Davao Commercial acquired a machine costing Php 150,000. Freight paid was Php5,000 and installation cost of Php5,000. The estimated useful life is 8 years and residual value of 5% of its asset cost.

The following are the customers' outstanding balances:

4,000 - Aling Marites

5,000 - Aling Myrna

10,000 - Aling Sol

2,000 - Aling Mira

1% of these balances are doubtful of collection.

03/31/2023 Purchased a dump truck for 3,000,000, a salvage value of 200,000, and a useful life of 20 years. Compute the depreciation expense for the next year.

Purchased an Apple Iphone XR ₱35,000 (128GB variant) for company used last May 31, 2023, 10% salvage value and 5 years useful life. Compute the depreciation expense for year 2024.