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(Slideshare Downloader La) 628a23e6071d3

On August 1, 2020, Bamco Company purchased a new machine on a deferred payment basis. A down payment of P100,000 was made and 4 monthly installments of P250,000 each are to be made beginning on September 1, 2020. The cash equivalent price of the machine was P950,000. The entity incurred and paid installation costs amounting to P30,000. What is the amount to be capitalized as cost of the machine?

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225 views18 pages

(Slideshare Downloader La) 628a23e6071d3

On August 1, 2020, Bamco Company purchased a new machine on a deferred payment basis. A down payment of P100,000 was made and 4 monthly installments of P250,000 each are to be made beginning on September 1, 2020. The cash equivalent price of the machine was P950,000. The entity incurred and paid installation costs amounting to P30,000. What is the amount to be capitalized as cost of the machine?

Uploaded by

AndreaaAAaa Tagle
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF or read online on Scribd
  • What is Accounting
  • Objectives of Accounting
  • Basic Accounting Principles and Concepts
  • Financial Information/Reports
  • The Basic Accounting Equation
  • Balance Sheet
  • Assets
  • Current and Noncurrent Assets
  • Liabilities
  • Current and Noncurrent Liabilities
  • Income Statement
  • Revenue and Expenses
  • Statement of Stockholder's Equity and Cash Flows
  • Users of Financial Statements/Accounting Information

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