Based on the preceding information, calculate the cost of each of the following PPE items:

Land
Buildings
Machinery and equipment
Land improvements

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For the next five items, refer to the following information: The following information relates to an entity. • On July 1, the entity purchased the plant assets of another entity, which had discontinued operations. The following are the fair values of the plant assets acquired: Land, 10,500,000; Building, 31,500,000; Machinery and Equipment 21,000,000. The entity issued 550,000 shares of its P100 par value ordinary share capital in exchange for the above plant assets. On the acquisition date, the stock had a fair value of P160 per share. • The entity expended the following amounts in cash between July 1 and December 20, the date when the company first occupied the building: Special assessments by city on land . • Repairs to building . Construction of bases for machinery and equipment acquired • Driveways and parking lots • Remodeling of office space in building including new partitions and walls P540,000 . 3,150,000 4,050,000 . 3,660,000 4,830,000 • On December 23, the entity paid cash for machinery, P7,800,000, subject to a 2% cash discount, and freight on machinery of P315,000. Based on the preceding information, calculate the cost of each of the following PPE items: For the next five items, refer to the following information: The following information relates to an entity. • On July 1, the entity purchased the plant assets of another entity, which had discontinued operations. The following are the fair values of the plant assets acquired: Land, 10,500,000; Building, 31,500,000; Machinery and Equipment 21,000,000. The entity issued 550,000 shares of its P100 par value ordinary share capital in exchange for the above plant assets. On the acquisition date, the stock had a fair value of P160 per share. • The entity expended the following amounts in cash between July 1 and December 20, the date when the company first occupied the building: Special assessments by city on land . • Repairs to building . Construction of bases for machinery and equipment acquired • Driveways and parking lots • Remodeling of office space in building including new partitions and walls P540,000 . 3,150,000 4,050,000 . 3,660,000 4,830,000 • On December 23, the entity paid cash for machinery, P7,800,000, subject to a 2% cash discount, and freight on machinery of P315,000. Based on the preceding information, calculate the cost of each of the following PPE items:

Answer rating: 100% (QA)

ANSWER Using the information provided we can calculate the cost of each PPE item as follows 1 Land T... View the full answer