On July 1, An entity purchased a machine worth 21,000, 000 subject to a 2% cash discount if paid within 120 days. Freight on the machinery amounted to P315,000. Construction of bases for such machine acquired amounted to P4,050,000. On November 15, the entity paid the supplier of the machine. How much is the total cost of the machine to be reported in the year-end statement of financial position ?
On July 1, An entity purchased a machine worth 21,000, 000 subject to a 2% cash discount if paid within 120 days. Freight on the machinery amounted to P315,000. Construction of bases for such machine acquired amounted to P4,050,000. On November 15, the entity paid the supplier of the machine. How much is the total cost of the machine to be reported in the year-end statement of financial position ?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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On July 1, An entity purchased a machine worth 21,000, 000 subject to a 2% cash discount if paid within 120 days. Freight on the machinery amounted to P315,000. Construction of bases for such machine acquired amounted to P4,050,000. On November 15, the entity paid the supplier of the machine. How much is the total cost of the machine to be reported in the year-end
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