Red Corp. has the following information in its notes to the financial statements: Land held for

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Red Corp. has the following information in its notes to the financial statements:

• Land held for long term capital appreciation- P1,000,000

• Land held for a currently determined future use- P300,000

• Property that is being constructed or developed for future use as an investment property- P1,500,000

• Investment property being redeveloped- P2,000,000

• Building owned and leased out under operating lease- P450,000

• Owner-occupied property- P3,200,000

• Owner-managed hotel- P2,300,000

How much is the Investment Property to be presented in the statement of financial position?

Related Book For answer-question

Accounting for Governmental and Nonprofit Entities

ISBN: 978-0078025822

17th edition

Authors: Jacqueline Reck, Suzanne Lowensohn, Earl Wilson

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Posted Date: Apr 10, 2023 02:34 AM

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Red Corp. has the following information in its notes to the financial statements: Land held for

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Based on the information provided the Investment Property to be ... View the full answer

Accounting for Governmental and Nonprofit Entities

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