Reference no: EM132752502
JYD Corporation plans to dispose of a group of net assets that form part of a disposal group. The net assets at December 31, 2020 are:
Carrying Value at December 31, 2020
Goodwill ----------------------------------------------------------------------- 6,000,000
Property, Plant and Equipment ---------------------------------------------18,000,000
Inventory------------------------------------------------------------------------10,000,000
Financial Assets (profit of P2,000,000 recognized in equity) ---------7,000,000
Financial liabilities ------------------------------------------------------------( 4,000,000)
Total ----------------------------------------------------------------------------P37,000,000
Before the date of reclassification, the property, plant and equipment had a fair value of P16,000,000, the inventory has a net realizable value of P9,000,000. The fair value less costs to sell of the disposal group is P25,000,000.
Problem 1: Immediately after classification as held for sale, what amount should be presented as the carrying value of the disposal group?
Group of answer choices
Option 1: P25,000,000
Option 2: P34,000,000
Option 3: P37,000,000
Option 4: P29,000,000
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