Question
JOGGERS, INC. REPORTED P60,000 net income for 1993. During the year, machinery costing P4,000 and land costing P6,000 were purchased. A machinery was sold for
JOGGERS, INC. REPORTED P60,000 net income for 1993. During the year, machinery costing P4,000 and land costing P6,000 were purchased. A machinery was sold for P300 which was its net book value. Selected account information follows:
|
| Jan. 1, 1993 | Dec. 31 1993 |
| Land | P5,000 | P11,000 |
| Machinery | 8,000 | 7,000 |
| Accumulated depreciation | 3,000 | 2,000 |
Net cash provided by operating activities was
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Forensic And Investigative Accounting
Authors: D. Larry Crumbley, Lester E. Heitger, G. Stevenson Smith
7th Edition
0808040731, 9780808040736
