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On July 1, 2020, XX Company purchased an equipment for P14,100,000. After 5 years of its estimated useful life, it can be sold for P100,000.
On July 1, 2020, XX Company purchased an equipment for P14,100,000. After 5 years of its estimated useful life, it can be sold for P100,000. How much is the carrying amount of the equipment as of December 31, 2021?
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Intermediate Accounting Volume 1
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
12th Canadian edition
119-49633-5, 1119496497, 1119496330, 978-1119496496
