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Compute how much should be recorded as Land

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Reference no: EM132762330

Question - DEF Company bought a piece of land and building for P15,000,000. On the acquisition date, the land has a fair value of P6,000,000 and the office building of P12,000,000.

Required -

1. Compute how much should be recorded as Land?

2. Compute how much should be recorded as Building?

Reference no: EM132762330

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