On April 1, 2010, ABC Company purchased an equipment worth P2,750,000, with an estimated useful life of eight years and a residual value of P250,000 00 ABC bought the equipment with the intention of have it leased On August 1, 2010, ABC Company signed a contract for the lease of the equipment for four years up to July 31, 2014 The lease contract states that the lessee shall pay ABC an annual lease fee of P750,000 in advance every August 1 starting August 1, 2010 Accordingly, ABC Company paid P150,000 worth of commission related to the lease negotiation and P 12,700 for minor repairs Compute for the gross lease income for 2010 Round off final answer to nearest peso What is the net amount to be reported in profit or loss for 2010 Round off final answer to nearest peso On April 1, 2010 ABC Company purchased an equipment worth P2,750,000, with an estimated useful life of eight years and a residual value of P250,000 00 ABC bought the equipment with the intention of have it leased On August 2010 ABC Company signed a contract for the loss of the equipment for four years up to July 31, 2014 The lease contract states that the lessee shall pay ABC an annual lease fee of P750,000 in advance every August 1 starting August 1 2010 Accordingly ABC Company paid P150 000 worth of commission related to the lease negotiation and P 12,700 for minor repairs 1 Compute for the gross lease income for 2010 Round off final answer to nearest peso 2 What is the net amount to be reported in profit or loss for 2010 Round off final answer to nearest pesa

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On April 1, 2010, ABC Company purchased an equipment worth P2,750,000, with an estimated useful life of eight years and a residual value of P250,000.00.

On April 1, 2010, ABC Company purchased an equipment worth P2,750,000, with an estimated useful life of eight years and a residual value of P250,000.00. ABC bought the equipment with the intention of have it leased.

On August 1, 2010, ABC Company signed a contract for the lease of the equipment for four years up to July 31, 2014. The lease contract states that the lessee shall pay ABC an annual lease fee of P750,000 in advance every August 1 starting August 1, 2010.

Accordingly, ABC Company paid P150,000 worth of commission related to the lease negotiation and P 12,700 for minor repairs.

Compute for the gross lease income for 2010. Round off final answer to nearest peso.
What is the net amount to be reported in profit or loss for 2010. Round off final answer to nearest peso.

On April 1, 2010. ABC Company purchased an equipment worth P2,750,000, with an estimated useful life of eight years and a residual value of P250,000.00. ABC bought the equipment with the intention of have it leased. On August 2010. ABC Company signed a contract for the loss of the equipment for four years up to July 31, 2014. The lease contract states that the lessee shall pay ABC an annual lease fee of P750,000 in advance every August 1 starting August 1 2010 Accordingly. ABC Company paid P150.000 worth of commission related to the lease negotiation and P 12,700 for minor repairs 1. Compute for the gross lease income for 2010. Round off final answer to nearest peso 2. What is the net amount to be reported in profit or loss for 2010. Round off final answer to nearest pesa