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How much is the carrying amount of the equipment on december

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Question 1: Saan Co. purchased manufacturing equipment from Sad Co. on Jaunary 1, 20x8 at a total cost of P9,000,000. Saan uses the straight-line method of depreciation and estimates that the equipment has a useful life of 10 years. On July 1, 20x8 and July 1, 20x9 Saan performed major regular inspections on the equipment costing P380,000 and P425,000, respectively. The costs of inspections satisfied the recognition criteria for capitalization. How much is the carrying amount of the equipment on December 31, 2009?

Reference no: EM132588376

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