carrying value of the investment at the end of the year 2019?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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At the beginning of the year 2019, Trunk Company has an investment
property acquired at a cost of P1,700,000 that is to be accounted under
the cost model. Depreciation of 10% is recognized annually and periodic
continuing repair costs of P3,500 per year as well as property tax of P2,700
are incurred by the company on an annual basis. What should be the
carrying value of the investment at the end of the year 2019?
zwollot zo beshommuz
E bouo pow ue cazu leceibjz Jonwar
Transcribed Image Text:At the beginning of the year 2019, Trunk Company has an investment property acquired at a cost of P1,700,000 that is to be accounted under the cost model. Depreciation of 10% is recognized annually and periodic continuing repair costs of P3,500 per year as well as property tax of P2,700 are incurred by the company on an annual basis. What should be the carrying value of the investment at the end of the year 2019? zwollot zo beshommuz E bouo pow ue cazu leceibjz Jonwar
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