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What amount of pretax gain in its financial statement

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Problem - Paramount Corporation won litigation for P45,000 tripled to P135,000 to include punitive damages during January 2020. Only the P90,000 punitive damages were appealed by the defendant. In an unrelated suit it filed, which is still on appeal by the defendant, Paramount was awarded P150,000. The outcome of these appeals could not be estimated by the counsel. Paramount should report what amount of pretax gain in its 2020 financial statement?

Reference no: EM132945949

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