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What is the carrying value of the equipment on december 31

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Question: Chelsea Company purchased an equipment for P1,080,000 on January 2, 2021. The equipment has an estimated salvage value of P120,000 and an estimated useful life of 5 years. The equipment is being depreciated using the sum of years' digit method. What is the carrying value of the equipment on December 31, 2022?

Reference no: EM133496940

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