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What the depreciation expense

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Question - On January 1, 2021, ABC Company sold machinery to MNO, its wholly-owned subsidiary for P450,000. The Equipment had cost ABC P560,000. The book value at the time of sale was P230,000. ABC used a 5-year life, with a salvage value P10,000 and uses sum of the years digits depreciation. MNO will adopt this practice. On the consolidated statement of financial position at December 31, 2021, what the depreciation expense?

Reference no: EM132977072

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