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Find gain on sale of land in current cost income statement

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Reference no: EM133185008

Question - Company paid P2,000,000 for land. On December 31, 2021, the current cost of the land was P2,200,000. On January 31,2022, the land was sold for P2,250,000. There was no change in the current cost of the land on January 31, 2022. Find the gain on sale of land in current cost income statement for 2020?

Reference no: EM133185008

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