Question: An entity accounts for non-current assets using the revaluation model. On 30 June 2020, the entity classified two items of non-current assets as held for

An entity accounts for non-current assets using the revaluation model. On 30 June 2020, the entity classified two items of non-current assets as held for sale in accordance with PERS5. The following information relates to these assets: Asset 1 Asset 2 Carrying amount before classification as held for sale P400,000 P300,000 Revaluation surplus before classification as held for sale 60,000 30,000 Fair value, 30 June 2020 450,000 260,000 Estimated costs to sell 20,000 12,000 The total expense to be recognized in profit or loss related to these assets is

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