Question
Diluc Company purchased a machine for P1,260,000 that was placed in service at year-end. The entity incurred additional costs for this machine. Shipping P30,000 Installation
Diluc Company purchased a machine for P1,260,000 that was placed in service at year-end. The entity incurred additional costs for this machine.
| Shipping | P30,000 |
| Installation | 40,000 |
| Testing | 50,000 |
At year-end, what amount should be reported as machinery?
1. Diluc Company purchased a machine for P1,260,000 that was placed in service at year-end. The entity incurred additional costs for this machine.
| Shipping | P30,000 |
| Installation | 40,000 |
| Testing | 50,000 |
At year-end, what amount should be reported as machinery?
P1,380,000
P1,330,000
P1,290,000
P1,260,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Comprehensive Manual Of Internal Audit Practice And Guide The Most Practical Guide To Internal Auditing Practice
Authors: Kibreab K Ftaw
1st Edition
1802277250, 978-1802277258
