Rover Company started operations on January 1, 2022. During the year, the company incurred the following: Contract price for new building P 9,600,000 New permanent 190,000 700,000 400,000 200,000 160,000 Driveways and parking bays Saving on construction Taxes in arrears assumed by Vanguard Safety inspection on new building Service equipment made as permanent part of the building Excavation cost Architect fee Payment to city hall for approval of building construction Removal of safety fence after completion of new building Cost of changes to plans and specifications due to incompetence Safe fence around construction site Payment for land Compute for the cost of Land. O P2,400,000 O P2,300,000 P2,100,000 P2,200,000 2,100,000 300,000 560,000 340,000 140,000 320,000 170,000 2,100,000

Rover Company started operations on January 1, 2022. During the year, the company incurred the following: Contract price for new building P 9,600,000 New permanent 190,000 700,000 400,000 200,000 160,000 Driveways and parking bays Saving on construction Taxes in arrears assumed by Vanguard Safety inspection on new building Service equipment made as permanent part of the building Excavation cost Architect fee Payment to city hall for approval of building construction Removal of safety fence after completion of new building Cost of changes to plans and specifications due to incompetence Safe fence around construction site Payment for land Compute for the cost of Land. O P2,400,000 O P2,300,000 P2,100,000 P2,200,000 2,100,000 300,000 560,000 340,000 140,000 320,000 170,000 2,100,000

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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