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What amount should company report as depreciation expense

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Question - The December 31, 2020 and 2019 comparative financial statements of Nasaktan Company showed equipment with an original cost of P379,000 and P344,000 with accumulated depreciation of P153,000 and P128,000, respectively. During 2020, the company purchased an equipment costing P50,000 and sold equipment with carrying value of P9,000. What amount should the company report as depreciation expense for the year ended December 31, 2020?

Reference no: EM133107610

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