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Compute how much carrying amount of equipment on december

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Problem 1: Enter Sandman Co. purchased manufacturing equipment from Sad But True Co. on January I, 2019 at a total cost of Enter Sandman uses the straight-line method of depreciation and estimates that the equipment has a useful life of 1 0 years. On July 1, 2019 and July I, 2020 Enter Sandman performe major regular inspections on the equipment costing P380,OOO and P425,OOO, respectively. The costs of inspection satisfied the recognition criteria for capitalization. How much is the carrying amount of the equipment on December 31, 2020?

Reference no: EM132765564

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