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On April 1, 2018, Mugiwara Co. purchased a building for P100,000,000. The building has an estimated life of 50 years. 9 months depreciation was taken on the year of purchase and the book value of the building on December 31,2023, after depreciation adjusting entry is P90,512,500.Using straight line depreciation, solve for the salvage value

On April 1, 2018, Mugiwara Co. purchased a building for P100,000,000. The building has an estimated life of 50 years. 9 months depreciation was taken on the year of purchase and the book value of the building on December 31,2023, after depreciation adjusting entry is P90,512,500.Using straight line depreciation, solve for the salvage value

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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On April 1, 2018, Mugiwara Co. purchased a building for P100,000,000. The building has an estimated life of 50 years. 9 months depreciation was taken on the year of purchase and the book value of the building on December 31,2023, after depreciation adjusting entry is P90,512,500.Using straight line depreciation, solve for the salvage value
Transcribed Image Text:On April 1, 2018, Mugiwara Co. purchased a building for P100,000,000. The building has an estimated life of 50 years. 9 months depreciation was taken on the year of purchase and the book value of the building on December 31,2023, after depreciation adjusting entry is P90,512,500.Using straight line depreciation, solve for the salvage value
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