On March 15, 2014, Rex Company paid property taxes of P180,000 on the factory building for calendar year 2014. On April 1, 2014, the entity made P300,000 in unanticipated ordinary repairs to plant equipment. What total amount of these expenses should be included in the quarterly income statement ending June 30, 2014?
On March 15, 2014, Rex Company paid property taxes of P180,000 on the factory building for calendar year 2014. On April 1, 2014, the entity made P300,000 in unanticipated ordinary repairs to plant equipment. What total amount of these expenses should be included in the quarterly income statement ending June 30, 2014?
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:On March 15, 2014, Rex Company paid property taxes of P180,000 on the factory building for calendar year
2014. On April 1, 2014, the entity made P300,000 in unanticipated ordinary repairs to plant equipment. What
total amount of these expenses should be included in the quarterly income statement ending June 30, 2014?
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