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  3. 1. southridge company incurred the following costs

1. Southridge Company incurred the following costs related to its purchase of a new assembly...

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Accounting

1. Southridge Company incurred the following costs related to its purchase of a new assembly line: Purchase cost: Php 9,435,000 (including Php 435,000 freight and purchase taxes)

Recoverable purchase taxes: Php 960,000

Irrecoverable purchase taxes: Php 870,000

Installation of assembly line: Php 975,000

Training of employees: Php 195,000

Estimated repair and maintenance costs over useful life: Php 500,000

What is the amount to be recognized as asset related to the assembly line?

a.

Php 11,280,000

b.

Php 9,450,000

c.

Php 9,645,000

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