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Show complete solutions as to why the final answer is 328,125. On January 1,2021 , information about Rabiya's equipment were disclosed and according to the
Show complete solutions as to why the final answer is 328,125.
On January 1,2021 , information about Rabiya's equipment were disclosed and according to the related notes, this particular equipment was purchased on June 30,2016 for P4,200,000. During that time, it was assessed that its useful life was 15 years. What if on January 1,2019 , the equipment's fair value was assessed to be at P4,375,000 and with remaining useful life of 8 years, then on January 1, 2021, it's new replacement cost decreased by 30% from the previously computed replacement cost in 2019 . How much should be charged to revaluation lossStep by Step Solution
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