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What the amount initially capitalized under property is

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EMMA Company received from the city government of Paranaque, a piece of land as an inducement to locate a plant in Paranaque. The fair value of the land was P450,000. EMMA Company paid P20,000 of legal costs for land transfer. Grading and levelling cost totaled P30,000.

Problem 1: The amount initially capitalized under property, plant and equipment is

Reference no: EM132984611

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