Reference no: EM132784857
Glory Corporation's & Machinery and Equipment" account as of December 31, 2003 is analyzed as follows:
Cost Accumulated Depreciation
Acquired in December 2000 4,000,000 1,600,000
Acquired in December 2002 1,000,000 200,000
Pertinent index numbers at the end of each year are:
Problem 1: hyperinflationary balance sheet prepared as of December 31, 2003 should include machinery and equipment net of accumulated depreciation of:
(a) P2,016,000 (b) P7,000,000 (c) P3,696,000 (d) P2,520,000
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