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Find what was the acquisition cost of the equipment

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Reference no: EM132616211

Problem 1: On January 1, 2018, Mogul Company acquired equipment to be used in the manufacturing operations. The equipment has an estimated useful life of 10 years and an estimated residual value of P50,000. The depreciation applicable to this equipment was P240,000 for 2020 computed under the sum of years' digits method. What was the acquisition cost of the equipment

Reference no: EM132616211

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