Question
PLEASE ANSWER ASAPPPPPPP An asset was acquired on January 1, 2020 for P800,000 and is expected to have a 5-year useful life. The straight-line method
PLEASE ANSWER ASAPPPPPPP
An asset was acquired on January 1, 2020 for P800,000 and is expected to have a 5-year useful life. The straight-line method was used. On January 1, 2022, the asset was deemed to have a sound value of P720,000.
How much is the revaluation surplus for the period ended December 31, 2022?
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Accounting Tools for business decision making
Authors: kimmel, weygandt, kieso
4th Edition
978-0470117262, 9780470534786, 470117265, 470534788, 978-0470095461
