On July 1, 2018, joint operator A, with 40 interest, contributed equipment to the joint operation for P250,000 The equipment had to remain a useful life of 5 years and a carrying amount of P200,000 What amount of the equipment will be reported by joint operator A as of December 31, 2018 What is the balance of unrealized gain on the transfer of equipment on December 31, 2018

Question: On July 1, 2018, joint operator A, with 40% interest, contributed equipment to the joint operation for P250,000. The equipment had to remain a useful

On July 1, 2018, joint operator A, with 40% interest, contributed equipment to the joint operation for P250,000. The equipment had to remain a useful life of 5 years and a carrying amount of P200,000.

What amount of the equipment will be reported by joint operator A as of December 31, 2018?
What is the balance of unrealized gain on the transfer of equipment on December 31, 2018?

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