On April 27, 2021, BatoBatoPik purchased for P6,000,000 a warehouse building and the land on which it is located. The following data were available concerning the property: Current Appraised Original Cost Value Land P2,200,000 P1,800,000 Warehouse P3,300,000 P3,000,000 Total P5,500,000 P4,800,000 At what amount should the warehouse be recorded?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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On April 27, 2021, BatoBatoPik purchased
for P6,000,000 a warehouse building and the
land on which it is located. The following
data were available concerning the property:
Current
Appraised Original Cost
Value
Land
P2,200,000
P1,800,000
Warehouse
P3,300,000
P3,000,000
Total
P5,500,000
P4,800,000
At what amount should the warehouse be
recorded?
Transcribed Image Text:On April 27, 2021, BatoBatoPik purchased for P6,000,000 a warehouse building and the land on which it is located. The following data were available concerning the property: Current Appraised Original Cost Value Land P2,200,000 P1,800,000 Warehouse P3,300,000 P3,000,000 Total P5,500,000 P4,800,000 At what amount should the warehouse be recorded?
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