net amount (book value) should appear in the statement of financial position as of September 30, 2021 for fixed assets? Transcribed Image Text: At December 31, 2020, the following existed

net amount (book value) should appear in the statement of financial position as of September 30, 2021 for fixed assets? Transcribed Image Text: At December 31, 2020, the following existed in the in the records of Lauren Company:
Fixed assets – P8,600,000; Accumulated depreciation – P3,970,000.
During the year ended September 30, 2021, fixed assets with a written down value of
P370,000 was sold for P490,000. The plant had originally cost P800,000. Fixed assets
purchased during the year cost P1,800,000. It is the company’s policy to charge a full
year’s depreciation in the year of acquisition of an asset and none in the year of sale,
using a rate of 10% on the straight-line basis. net amount (book value) should
appear in the statement of financial position as of September 30, 2021 for fixed assets?

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