FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The capitalized cost of a new printing equipment was found to be P426,000.00. The rate of interest was 12%, with a salvage value of P30,000.00 at the end of a service life of 8 years. Assuming that the cost of perpetual replacement remains constant, determine the original cost of the equipment.
Answer. P266,062.26
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