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How much should jp company reported as revenue

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Porblem 1: Morgan Conpany owned an idle parcel of real estate consisting of land and factory building. Morgan gave title to this reality to JP Company as an incentive for JP Company to establish manufacturing operations in the area. JP Company paid nothing for this realty which had a fair market value of P2,588,000 at the date of grant. In the statement of changes in equity, how much should JP Company reported as revenue?

Reference no: EM132789759

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