Reference no: EM132747819
Questions -
Question 1 - SC Corporation plans to dispose of a group of net assets that form part of a disposal group. The net assets at December 31, 2020 are:
Carrying Value at December 31, 2020
Goodwill 6,000,000
Property, Plant and Equipment 18,000,000
Inventory 10,000,000
Financial Assets (profit of P2,000,000 recognized in equity) 7,000,000
Financial liabilities (4,000,000)
Total P37,000,000
Before the date of reclassification, the property, plant and equipment had a fair value of P16,000,000, the inventory has a net realizable value of P9,000,000. The fair value less costs to sell of the disposal group is P25,000,000.
What amount of the impairment loss is allocated to the property, plant, and equipment?
a. None
b. P3,000,000
c. P6,000,000
d. P9,000,000
Question 2 - SC Corporation plans to dispose of a group of net assets that form part of a disposal group. The net assets at December 31, 2020 are:
Carrying Value at December 31, 2020
Goodwill 6,000,000
Property, Plant and Equipment 18,000,000
Inventory 10,000,000
Financial Assets (profit of P2,000,000 recognized in equity) 7,000,000
Financial liabilities (4,000,000)
Total P37,000,000
Before the date of reclassification, the property, plant and equipment had a fair value of P16,000,000, the inventory has a net realizable value of P9,000,000. The fair value less costs to sell of the disposal group is P25,000,000.
What amount of the impairment loss is allocated to the goodwill?
a. None
b. P3,000,000
c. P6,000,000
d. P9,000,000
Question 3 - SC Corporation plans to dispose of a group of net assets that form part of a disposal group. The net assets at December 31, 2020 are:
Carrying Value at December 31, 2020
Goodwill 6,000,000
Property, Plant and Equipment 18,000,000
Inventory 10,000,000
Financial Assets (profit of P2,000,000 recognized in equity) 7,000,000
Financial liabilities (4,000,000)
Total P37,000,000
Before the date of reclassification, the property, plant and equipment had a fair value of P16,000,000, the inventory has a net realizable value of P9,000,000. The fair value less costs to sell of the disposal group is P25,000,000.
What amount of the impairment loss is allocated to the inventory?
a. None
b. P3,000,000
c. P6,000,000
d. P9,000,000
Question 4 - SC Corporation plans to dispose of a group of net assets that form part of a disposal group. The net assets at December 31, 2020 are:
Carrying Value at December 31, 2020
Goodwill 6,000,000
Property, Plant and Equipment 18,000,000
Inventory 10,000,000
Financial Assets (profit of P2,000,000 recognized in equity) 7,000,000
Financial liabilities (4,000,000)
Total P37,000,000
Before the date of reclassification, the property, plant and equipment had a fair value of P16,000,000, the inventory has a net realizable value of P9,000,000. The fair value less costs to sell of the disposal group is P25,000,000.
Immediately after classification as held for sale, what amount should be presented as the carrying value of the disposal group?
a. P25,000,000
b. P29,000,000
c. P34,000,000
d. P37,000,000
Question 5 - SC Corporation plans to dispose of a group of net assets that form part of a disposal group. The net assets at December 31, 2020 are:
Carrying Value at December 31, 2020
Goodwill 6,000,000
Property, Plant and Equipment 18,000,000
Inventory 10,000,000
Financial Assets (profit of P2,000,000 recognized in equity) 7,000,000
Financial liabilities (4,000,000)
Total P37,000,000
Before the date of reclassification, the property, plant and equipment had a fair value of P16,000,000, the inventory has a net realizable value of P9,000,000. The fair value less costs to sell of the disposal group is P25,000,000.
Immediately after classification as held for sale, what amount of liability directly associated with the disposal group should be presented in the liability section of the statement of financial position?
a. None
b. P2,000,000
c. P4,000,000
d. P9,000,000
Question 6 - SC Corporation plans to dispose of a group of net assets that form part of a disposal group. The net assets at December 31, 2020 are:
Carrying Value at December 31, 2020
Goodwill 6,000,000
Property, Plant and Equipment 18,000,000
Inventory 10,000,000
Financial Assets (profit of P2,000,000 recognized in equity) 7,000,000
Financial liabilities (4,000,000)
Total P37,000,000
Before the date of reclassification, the property, plant and equipment had a fair value of P16,000,000, the inventory has a net realizable value of P9,000,000. The fair value less costs to sell of the disposal group is P25,000,000.
Immediately after classification as held for sale of the disposal group, what amount should be disclosed separately in equity relating to non-current asset held for sale?
a. None
b. P2,000,000
c. P4,000,000
d. P9,000,000