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FDN Company acquires a building on April 1, 2021 at a cost of P24,500,000. The building has an estimated useful life of 40 years and an estimated salvage value of P500,000. How much is the depreciation expense for the year ended December 31, 2021?

FDN Company acquires a building on April 1, 2021 at a cost of P24,500,000. The building has an estimated useful life of 40 years and an estimated salvage value of P500,000. How much is the depreciation expense for the year ended December 31, 2021?

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter12A: The Statement Of Cash Flows
Section: Chapter Questions
Problem 1P: Mahoney Company has the following financial statements for 2017 and 2018. Assume that the purchase...
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Q2(no pic): FDN Company acquires a building on April 1, 2021 at a cost of P24,500,000. The building has an estimated useful life of 40 years and an estimated salvage value of P500,000. How much is the depreciation expense for the year ended December 31, 2021?
On January 1, 2021, FDN Company has a cash balance of P43,600. The following financial information are taken from its books on December 31, 2021, end of the accounting period: Cash received from customers P 111,000 Cash received from sale of equipment 11,600 Purchase of equipment for cash 14,000 Additional cash investment of owner 22,000 Cash paid for bank loan 5,000 Cash received for sale of long-term investments 19,000 Payment for operating expenses 81,500 Note issued for acquisition of company vehicle 6,500 How much was the net cash flow provided by (used in) investing activities? Enter as a negative amount if it's used in investing activities. « Previous Next
Transcribed Image Text:On January 1, 2021, FDN Company has a cash balance of P43,600. The following financial information are taken from its books on December 31, 2021, end of the accounting period: Cash received from customers P 111,000 Cash received from sale of equipment 11,600 Purchase of equipment for cash 14,000 Additional cash investment of owner 22,000 Cash paid for bank loan 5,000 Cash received for sale of long-term investments 19,000 Payment for operating expenses 81,500 Note issued for acquisition of company vehicle 6,500 How much was the net cash flow provided by (used in) investing activities? Enter as a negative amount if it's used in investing activities. « Previous Next
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