Equipment with a cost of P800,000 and accumulated depreciation of P240,000 is contributed to a new partnership by PARADIS ARMIN. The current market value of the equipment is P760,000. The replacement...

Equipment with a cost of P800,000<br>and accumulated depreciation of<br>P240,000 is contributed to a new<br>partnership by PARADIS ARMIN. The<br>current market value of the<br>equipment is P760,000. The<br>replacement value of the equipment<br>is P1,080,000. The equipment would<br>be recorded on the partnership books<br>at:<br>Your answer<br>Indirect materials are: Item 1:<br>CONVERSION COST, Item 2:<br>MANUFACTURING COST, Item 3:<br>PRIME COST<br>O A. Yes Yes Yes<br>B. Yes Yes No<br>C. No Yes Yes<br>O D. No No No<br>

Extracted text: Equipment with a cost of P800,000 and accumulated depreciation of P240,000 is contributed to a new partnership by PARADIS ARMIN. The current market value of the equipment is P760,000. The replacement value of the equipment is P1,080,000. The equipment would be recorded on the partnership books at: Your answer Indirect materials are: Item 1: CONVERSION COST, Item 2: MANUFACTURING COST, Item 3: PRIME COST O A. Yes Yes Yes B. Yes Yes No C. No Yes Yes O D. No No No

Jun 03, 2022

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Equipment with a cost of P800,000 and accumulated depreciation of P240,000 is contributed to a new partnership by PARADIS ARMIN. The current market value of the equipment is P760,000. The replacement...

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