Question 39On January 1of the current year, the furniture account had a balance of P 24.000 with accumulated depreciation of P 2,400.On May additional furniture costing P 12,000 was bought. The furniture is deprociated at the rate 106 poer annum.What is the carrying amount (net book value) of the fumiture on December 31, the end of the accounting period?P 30,400P 34,000P 34,000P 32,400

Net book value of the assets = Total cost of the assets - Accumulated depreciation where,…

On January 1of the current year, the furniture account had a balance of P 24.000 with accumulated depreciation of P 2,400. On May additional furniture costing P 12,000 was bought. The furniture is depreciated at the rato 10% per annum. What is the carrying amount (net book value) of the fumiture on December 31, the end of the accounting period? O a P 30,400 P 34,000 Oc P 34,000 P 32,400

On January 1of the current year, the furniture account had a balance of P 24.000 with accumulated depreciation of P 2,400. On May additional furniture costing P 12,000 was bought. The furniture is depreciated at the rato 10% per annum. What is the carrying amount (net book value) of the fumiture on December 31, the end of the accounting period? O a P 30,400 P 34,000 Oc P 34,000 P 32,400

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter5: Accounting For Merchandising Businesses

Section: Chapter Questions

Problem 5.24EX: Multiple-step income statement On March 31, 2018, the balances of the accounts appearing in the...

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