On January 1, 20x1, Wonder Co.'s equipment with a historical ost of P9,000,000 and accumulated depreciation P4,200,000 is determined to be impaired. The appropriate carrying amount on this date is estimated to be only P3,000,000 and that the remaining useful life should only be 3 years instead of 8 years. How much is the accumulated depreciation on December 31, 20x1? a. 7,000,000 b. 6,000,000 c. 5,200,000 d. 1,000,000

On January 1, 20x1, Wonder Co.'s equipment with a historical ost of P9,000,000 and accumulated depreciation P4,200,000 is determined to be impaired. The appropriate carrying amount on this date is estimated to be only P3,000,000 and that the remaining useful life should only be 3 years instead of 8 years. How much is the accumulated depreciation on December 31, 20x1? a. 7,000,000 b. 6,000,000 c. 5,200,000 d. 1,000,000

Name: On January 1, 20x1, Wonder Co.'s equipment with a historicalmst of P9
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Description: On January 1, 20x1, Wonder Co.'s equipment with a historicalmst of P9,000,000 and accumulated depreciation P4,200,000 isdetermined to be impaired. The appropriate carrying amounton this date is estimated to be only P3,000,000 and that theremaining u

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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