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Question - On January 1, 2016, ABC Company bought an equipment for 1,350,000 with a useful life of 10 years but no residual value at the end of its life.
On January 1, 2020, the equipment was appraised which resulted to a replacement cost of P2,700,000 and a residual value of 270,000 but no change as to the remaining useful life.
What is the amount of revaluation surplus on January 1, 2020, if any?
What is the subsequent annual depreciation after the revaluation test?
What is the amount of the six annual deposits that ABC needs to make? Record the payment if payment is made on May 20, 2015.
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Actual outflows be different from the estimate. What is the amount of provision for decontamination should DDD Company recognized on October 31, 20x8?
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