On 15 January 2020, Dell & Co. sold land that cost P90,000 for P120,000. The balance of the land account was P700,000 at the beginning of the year and P900,000 at the end of the year. All land acquisitions were paid in cash. What is the amount paid (cash outflow) for the acquisition of land during 2020? P0 P200,000 P290,000 P320,000

On 15 January 2020, Dell & Co. sold land that cost P90,000 for P120,000. The balance of the land account was P700,000 at the beginning of the year and P900,000 at the end of the year. All land acquisitions were paid in cash. What is the amount paid (cash outflow) for the acquisition of land during 2020? P0 P200,000 P290,000 P320,000

Name: On 15 January 2020, Dell & Co. sold land that cost P90,000 for P120,00
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Description: On 15 January 2020, Dell & Co. sold land that cost P90,000 for P120,000. The balance of the land account was P700,000 at the beginning of the year and P900,000 at the end of the year. All land acquisitions were paid in cash. What is the amount pai

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter3: Income Sources

Section: Chapter Questions

Problem 43P

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