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What amount should be carried in statement for orange co

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Problem 1: ORANGE Company acquired a building on January 1, 2019 for ? 9,000,000. At that date the building had a useful life of 30 years. On December 31, 2019, the fair value of the building was ? 9,600,000 and on December 31, 2020, the fair value is ? 9,800,000. The building was classified as an investment property and accounted for under the cost model. What amount should be carried in the statement of financial position for the year ended 2020?

a. ? 8,400,000

b. ? 9,800,000

c. ? 8,700,000

d. ? 9,000,000

Reference no: EM132945574

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