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Question - Liliw Business Enterprise purchased transportation equipment on June 30, 2018 that can be used over five years. The total depreciable cost of the asset is P285,000 and the residual value is P35,000. How much is the book value of the transportation equipment as of December 31, 2019?
P199,500
P210,000
P234,500
P245,000
The assessment value is 325,000. What value should the building be recorded at, and which accounting principal supports your answer
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