1. A store building was constructed on January 2, 2009 with a cost of P570,000. Its estimated...
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1. A store building was constructed on January 2, 2009 with a cost of P570,000. Its estimated useful life is 16 years with scrap value of P70,000 after 16 years. In January, 2014 replacement of some worn-out parts of the building costing P50,000 was spent. After the repairs, the building was appraised with a fair market value of P770,000.
The allowable deduction for depreciation for the year 2014 is?
Present solutions in good accounting form. No parenthetical solution.
2.
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