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FDN Company acquires a building on April 1, 2021 at a cost of P26,500,000. The building has an estimated useful life of 40 years and an estimated salvage value of P500,000. How much is the depreciation expense for the year ended December 3: 2021?

FDN Company acquires a building on April 1, 2021 at a cost of P26,500,000. The building has an estimated useful life of 40 years and an estimated salvage value of P500,000. How much is the depreciation expense for the year ended December 3: 2021?

FINANCIAL ACCOUNTING
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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FDN Company acquires a building on April 1, 2021 at a cost of P26,500,000. The building has an estimated useful life of 40 years and an estimated salvage value of P500,000. How much is the depreciation expense for the year ended December 31, 2021?
Transcribed Image Text:FDN Company acquires a building on April 1, 2021 at a cost of P26,500,000. The building has an estimated useful life of 40 years and an estimated salvage value of P500,000. How much is the depreciation expense for the year ended December 31, 2021?
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