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What machinery and equipment net of accumulated depreciation

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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

Reference no: EM132784857

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