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Question - On December 31, 2022, Villar Co. classified its building with a carrying amount of P5,000,000 and fair value less costs to sell of P4,650,000 as held for sale. Impairment loss of P350,000 was recognized on that date. The building has a remaining useful life of 5 years and it was depreciated using the straight-line method.
As of December 31, 2023, the building was not yet sold and management decided not to sell the building anymore. The fair value less cost to sell of the building on December 31, 2023 is P4,100,000 while the value in use is P4,010,000.
Required - How much is the carrying amount of the building upon reclassification back to property, plant and equipment?
Describe the price-earnings ratio. What can investors learn from interpreting the results of this ratio?Select a company that trades common stock on the NYSE.
The rounded present value of an ordinary annuity for nine years at 12% is 5.3282. What amount should N report as recorded lease liability at December
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a company sells leaf blowers for 150 each. each unit has a 3 year warranty that covers replacement of defective parts.
Determine Finlay's total income tax deduction for this pay period. Finlay works for Crystal Lighting in Alberta. Finlay earns an annual salary of $58,200.00.
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