On March 15, 2014, Rex Company paid property taxes of P180,000 on the factory building for calendar year 2014. On April 1, 2014, the entity made P300,000 in unanticipated ordinary repairs to plant equipment. What total amount of these expenses should be included in the quarterly income statement ending June 30, 2014?

On March 15, 2014, Rex Company paid property taxes of P180,000 on the factory building for calendar year 2014. On April 1, 2014, the entity made P300,000 in unanticipated ordinary repairs to plant equipment. What total amount of these expenses should be included in the quarterly income statement ending June 30, 2014?

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter8: Depreciation, Cost Recovery, Amortization, And Depletion

Section: Chapter Questions

Problem 30CE

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