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What is the machine purchase price

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Reference no: EM132979422

Property, Plant, & Equipment - Show complete solution and explain:

Wednesday has equipment worth P93,500, with P64,000 accumulated depreciation. Wednesday asks P35,000 for the equipment but sells it for P33,000. Calculate the GAIN or LOSS on the sale.

Thursday Company bought a machine on December 31, 2018, on a deferred payment contract. Thursday Co. is obliged to make eight yearly payments of P140,000 each starting December 31, 2019, according to the provisions of the contract. The appropriate rate of interest is 8%.

Problem 1: What is the machine's purchase price? (PV of ordinary annuity at 8% for 8 periods is 5.74664)

Reference no: EM132979422

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