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How window company should classify the building

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Reference no: EM132945939

Question - On January 2, 2011, Window Company intends to sell its building with a carrying value of P3,800 000 but with a fair value of P4,200,000, but will continue to use the asset until the construction of a new building is completed. The current building has a remaining useful life of 10 years. On January 2, 2011, how Window Company should classify the building?

Reference no: EM132945939

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