On December 31, 2019, Hairy Inc. Sold computer equipment to Barber Co and immediately leased it back for 10 years. The sales price of the equipment was P560, 000, its carrying amount is P400, 000, and its estimated economic life is 12 years. Determine the amount of deferred revenue to be reported from the sale of the computer equipment on December 31, 2012
On December 31, 2019, Hairy Inc. Sold computer equipment to Barber Co and immediately leased it back for 10 years. The sales price of the equipment was P560, 000, its carrying amount is P400, 000, and its estimated economic life is 12 years. Determine the amount of deferred revenue to be reported from the sale of the computer equipment on December 31, 2012
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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On December 31, 2019, Hairy Inc. Sold computer equipment to Barber Co and immediately leased it back for 10 years. The sales price of the equipment was P560, 000, its carrying amount is P400, 000, and its estimated economic life is 12 years. Determine the amount of deferred revenue to be reported from the sale of the computer equipment on December 31, 2012.
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