Answer the following: The records of Tama Trading on January 1, of the...
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Accounting
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The records of Tama Trading on January 1, of the current year, showed fixed assets with a total net book value of P96,000, consisting of Land P30,000; Building P50,000; and an equipment of different kinds P16,000. The building has been used for 40 years and has remaining useful life of 10 years. The equipment had been used for 6 years and has a remaining useful life of 4 years. Question No. 5: The accumulated depreciation on the equipment as of January 1. Question No. 6: The original cost of the equipment, assuming that these were all acquired at the same time
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