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What would be the cost of the non-monetary asset received

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Problem 1: On July 1,2020, Alex Company exchanged its non-monetary asset with non-monetary asset. The following data were made available: Cash received on exchange:P900,000, Fair Value of Equipment: P3,000,000,. Equipment: P4,400,000 and Accumulated Depreciation for P 2,000,000. If the cashflows of the non-monetary assets were not the same, what would be the cost of the non-monetary asset received?

Reference no: EM132789762

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