In 2023, entity A engaged in a real estate business wherein it constructs condominium units for sale.  During June 30, 2023, the entity completed the construction of the condominium with total direct cost incurred of Php100,000,000 (including borrowing cost of Php10,000,000) and useful life of 50 years?Required:
1) What is the initial measurement of the condominium?

Answer rating: 100% (QA)

Assuming that entity A follows Philippine Financial Reporting Standards PFRS the initial measurement ... View the full answer