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How much should be classified as investment properties

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Reference no: EM132960295

Spongebob Company has the following property items on December 31, 2021:

Land held not intended for any specific use in the future P ,000,000

Land held for future plant site ,000,000

Building being leased out under finance lease 2,500,000

Equipment being leased out under operating lease 1,000,000

Condominium building that is being constructed

intended for sale in the ordinary course of business 4,500,000

Building being used for administrative purposes 5,000,000

Hotel building for which significant services are provided to the guests 6,500,000

Problem 1: How much should be classified as investment properties on December 31, 2021?

a. 5,000,000

b. 9,500,000

c. 4,000,000

d. 10,500,000

Reference no: EM132960295

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