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How much gain will be recognized in income statement

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Reference no: EM132811642

Taken from the records of Vi Co. are the following:

Cost                  Fair Value

2019                 18,000

21,000                 2020

20,000                23,000

Costs to sell were estimated at P1,000 and P800 in 2019 and 2020, respectively.

Problem 1: How much gain will be recognized in Vi's 2020 income statement?

a. 1,800

b. 2,000

c. 3,000

d. 2,200

Reference no: EM132811642

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