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What is the carrying amount of this equipment on december

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Question - B Co. purchased equipment on January 1, 2025 at an invoice price of P800,000, with credit terms 5/10, n/30. Freight in costs of P25,000, testing and installation costs of P40,000 and labor costs during regular production operations of P20,000 were also incurred before the payment of the invoice on January 20, 2025. It was expected that the machine could be used for 10 years, after which the residual value would be zero. The entity intends to use the machine for only 8 years, however, after which it expected to be able to sell it for P50,000. The straight-line method is used. What is the carrying amount of this equipment on December 31, 2025?

Reference no: EM133165705

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