On July 1, 1985, Ram Corporation acquired a building at a cost of P3.5M, additional costs for repairs and improvement amounted to P0.3M. Economic life was estimated at 30 years. On July 1, 1995, the building was renovated at a cost of P1.7M. The expected life did not change. Using the DDBM, determine the book value of the building on July 1, 2005. (Ans. P1257,378.02)

On July 1, 1985, Ram Corporation acquired a building at a cost of P3.5M, additional costs for repairs and improvement amounted to P0.3M. Economic life was estimated at 30 years. On July 1, 1995, the building was renovated at a cost of P1.7M. The expected life did not change. Using the DDBM, determine the book value of the building on July 1, 2005. (Ans. P1257,378.02)

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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