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Easy Company acquired an equipment on January 1, 2020 for Php 5,000,000. Depreciation is computed using the sum of the years' digit method. The estimated
Easy Company acquired an equipment on January 1, 2020 for Php 5,000,000. Depreciation is computed using the sum of the years' digit method. The estimated useful life of the equipment is five years with no residual value. A specific price index applicable to the equipment was 150 on January 1, 2020 and 225 on December 31, 2020. What is the unrealized holding gain (loss) on the equipment to be reported in 2020? Select the correct response: Php833,333 Php416,667 Php972,222 Php1,666,667 None of the above
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