Annual Depreciation Computation:

Annual Depreciation = (572,000-36,000) / 3

Annual Depreciation = 536,000 / 3
Annual Depreciation = ₱ 178,666.67

Depreciation Schedule
Year Computation Depreciation Expense Accumulated Depreciation
2020 ((572,000-36,000) / 3) * 6/12 ₱ 89,333.34 ₱ 89,333.34
2021 (572,000-36,000) / 3 ₱ 178,666.67 ₱ 268,000.01
2022 (572,000-36,000) / 3 ₱ 178,666.67 ₱ 446,666.68
2023 ((572,000-36,000) / 3) * 6/12 ₱ 89,333.34 ₱ 536,000.00
 Charlie Freight
GENERAL JOUR
Adjusting Entri
Date
PARTICULARES
a Depreciation Expense
Net Book Value Accumulated Depreciation
₱ 482,666.67
₱ 304,000.00
₱ 125,333.33
₱ 36,000.00 b Depreciation Expense
Accumulated Depreciation

c Bad Debts Expense

Allowance for Bad Debts

d Depreciation Expense
Accumulated Depreciation
 GJ-1
Charlie Freight Co.
GENERAL JOURNAL
Adjusting Entries
PARTICULARES P.R. Debit Credit
Depreciation Expense ₱ 89,333.34
Accumulated Depreciation ₱ 89,333.34
To record the depreciation
((572,000-36,000) / 3) * 6/12

Depreciation Expense ₱ 178,666.67

Accumulated Depreciation ₱ 178,666.67
To record the depreciation
(572,000-36,000) / 3

Bad Debts Expense ₱ 178,666.67

Allowance for Bad Debts ₱ 178,666.67
To record the bad debts
(572,000-36,000) / 3

Depreciation Expense ₱ 89,333.34

Accumulated Depreciation ₱ 89,333.34
To record the depreciation
((572,000-36,000) / 3) * 6/12

Balance ₱ 536,000.01 ₱ 536,000.01