Black Company bought land in 2018 at a cost of P300,000. In 2021, the land was...
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Black Company bought land in 2018 at a cost of P300,000. In 2021, the land was revalued to P350,000 and in 2024 it was revalued again to P400,000. At the end of 2027, the land had a value in use of P270,000 and the fair value less costs of disposal was P285,000. How much of the impairment loss should be recognized in profit or loss? Black Company bought land in 2018 at a cost of P300,000. In 2021, the land was revalued to P350,000 and in 2024 it was revalued again to P400,000. At the end of 2027, the land had a value in use of P270,000 and the fair value less costs of disposal was P285,000. How much of the impairment loss should be recognized in profit or loss?
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Related Book For
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
Posted Date:
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