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

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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