Susan Company experienced the following transactions during the current year: 1.Purchased machinery for P 500,000 cash 2.Purchase land and building for P 5,500,000 cash, including an appraiser’s fee of P 100,000. An appraisal indicated fair value as follows: Land 2,000,000 and Building 3,000,000. 3.Invested in 5,000 shares of another entity at P 100 per share. Subsequently, Susan Company exchanged the 5,000 shares for a delivery Record the transactions and compute for the total PPE
Susan Company experienced the following transactions during the current year: 1.Purchased machinery for P 500,000 cash 2.Purchase land and building for P 5,500,000 cash, including an appraiser’s fee of P 100,000. An appraisal indicated fair value as follows: Land 2,000,000 and Building 3,000,000. 3.Invested in 5,000 shares of another entity at P 100 per share. Subsequently, Susan Company exchanged the 5,000 shares for a delivery Record the transactions and compute for the total PPE
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 2EA: Jada Company had the following transactions during the year: Purchased a machine for $500,000 using...
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Susan Company experienced the following transactions during the current year:
1.Purchased machinery for P 500,000 cash
2.Purchase land and building for P 5,500,000 cash, including an appraiser’s fee of P 100,000. An appraisal indicated fair value as follows: Land 2,000,000 and Building 3,000,000.
3.Invested in 5,000 shares of another entity at P 100 per share. Subsequently, Susan Company exchanged the 5,000 shares for a delivery
Record the transactions and compute for the total PPE
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