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What is the net increase in income statement of Mailings Inc

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Question - Financial Accounting - Mailings Inc. bought an machinery on January 1, 2013 at a cost of $2,200,000 and 20 years estimated useful life. On December 31, 2017, the fair value of the machinery is P1,800,000, and revised useful life of 15 years. What is the net increase in income statement of Mailings Inc. and what is the carrying amount of the machinery two years after revaluation?

Reference no: EM133016253

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