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What amount should be included as loss on disposal

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Question - The Yellow Corp. accounts for non-current assets using the cost model. On 25 April 2021, Yellow Corp. classified a non-current asset as held for sale in accordance with PFRS5. At that date the asset's carrying amount was P32,000, its fair value was estimated at P22,000 and the costs to sell at P3,200. On 15 May 2021 the asset was sold for net proceeds of P17,400. In Yellow Corp.'s statement of comprehensive income for the year ended 30 June 2021, what amount should be included as loss on disposal?

Reference no: EM132935046

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