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By what amount Accumulated Profits and Losses be charged

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Question - Screensaver Corporation's Accumulated Profits and Losses at December 31, 2014 amounted to P2,000,000. On that date, Screensaver declared and distributed its investment property, that was carried under the fair value model, as property dividend. The investment property which was acquired at a historical cost of P300,000 has a fair market value of P450,000 on December 31, 2014. On the date of declaration and distribution, by what amount should Accumulated Profits and Losses be charged?

Reference no: EM133133723

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