What is the book value of the building
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Assume that a company acquired a building on January 31, 20x1 at a cost of
P1,000,000. The building has an estimated useful life of 40 years and an
estimated residual value of P200,000. What is the book value of the building at
December 31 20x1? *
980,000
975,000
981,667
977,083
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