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Calculate the total expense to be recognized

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Question - Ahn Corporation has a building classified as investment property. The building was acquired on January 1, 2017 at a cost of P60,000,000. The building has an estimated life of 25 years and nil residual value. The following information is available:

 

12/31/2020

12/31/2021

Fair value

P50,000,000

P55,000,000

Costs of disposal

P4,000,000

P3,500,000

Value in use

P43,000,000

P39,500,000

Required -

1. Calculate the total expense to be recognized in 2020 profit or loss is Ahn used the cost model.

2. Calculate the total expense to be recognized in 2021 profit or loss is Ahn used the cost model.

3. Calculate the total expense to be recognized in 2021 profit or loss is Ahn used the fair model.

Reference no: EM133140286

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