Reference no: EM132949827
Question - Solano Company is considering the appropriateclassification of the following items:
Land held for long-term capital appreciation P15,000,000
Land held for undecided future use 30,000,000
Building leased out under an operating lease 75,000,000
Building leased out under a finance lease 45,000,000
Vacant building held to be leased out under an operating lease 8,000,000
Property held for use in the production or supply of goods or services 6,000,000
Property held for administrative purposes 9,000,000
Property held for sale in the ordinary course of business 2,000,000
Property held in the process of construction or development for sale 3,000,000
Property being constructed or developed on behalf of third parties 12,000,000
Property held for future use as owneroccupied property 4,000,000
Property held for future development and subsequent use as owneroccupied property 4,400,000
Property occupied by employees 3,600,000
Owner-occupied property awaiting disposal 750,000
Property that is being constructed or developed for use as an investment property 12,000,000
Existing investment property that is being redeveloped for continuing use as investment property 24,000,000
Building held for administrative purposes and leased out under operating lease (60% is for administrative purposes) 15,000,000
Building leased out under an operating lease (the entity supplies security and maintenance services to the lessees) 30,000,000
Required - How much is the total amount that would normally be reported as investment property?