4. On January 1, 2021, an entity acquired an equipment with an estimated useful life of 10 years and estimated residual value of P50,000. The depreciation applicable to this equipment was P240,000 for 2023 computed under the sum of years' digits method. What was the acquisition cost of equipment?

4. On January 1, 2021, an entity acquired an equipment with an estimated useful life of 10 years and estimated residual value of P50,000. The depreciation applicable to this equipment was P240,000 for 2023 computed under the sum of years' digits method. What was the acquisition cost of equipment?

Name: 4. On January 1, 2021, an entity acquired an equipment with an estima
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Description: 4. On January 1, 2021, an entity acquired an equipment with an estimated useful life of 10 years andestimated residual value of P50,000. The depreciation applicable to this equipment was P240,000 for2023 computed under the sum of years' digits metho

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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