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<\/div><\/div><\/div> On January 1, 2020, AAA Company has a balance of P9,800,000 in its PPE account. The following are the purchases made throughout the year . Purchased an equipment with the following conditions: P300,000 down payment, balance will be in 10 annual payments of P100,000 payable every December. The cash equivalent price is P870,000; Testing cost, including P10,000 wages of the regular operator - P30,000; Loss on premature retirement of the old machinery - P7,500 and Installation cost of - P75,000 . Purchased a machine in exchange for a noninterest bearing note on December 31, 2016 requiring ten payments of P500,000. The first payment was made on that day. Interest is 12%. Machine supplies were acquired at a cost of P225,000. The entity incurred cost of P75,000 in removing the old machine before the installation. Furthermore, the company paid in addition to purchase price an input vat of P375,000. PV factor - 2 decimal places, How much will be the balance of PPE of AAA Company on December 31, 2020",
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"related_book": {
"title": "Core Macroeconomics",
"isbn": "978-1429278478, 1429278471, 978-1429278492, 1429278498, 1464191433, 978-1464191435",
"edition": "3rd edition",
"authors": "Eric Chiang",
"cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/648.jpg",
"uri": "\/textbooks\/core-macroeconomics-3rd-edition-648",
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"question_posted": "2024-06-28 09:15:24",
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