Reference no: EM132936345
Questions -
Q1) Red Corp. has the following information in its notes to the financial statements:
Land held for long term capital appreciation- P1,000,000
Land held for a currently determined future use- P300,000
Property that is being constructed or developed for future use as an investment property- P1,500,000
Investment property being redeveloped- P2,000,000
Building owned and leased out under operating lease- P450,000
Owner-occupied property- P3,200,000
Owner-managed hotel- P2,300,000
How much is the Investment Property to be presented in the statement of financial position?
Q2) 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?
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How many units did the company produce during the year
: Production cost was Php250 per unit under absorption costing. How many units did the company produce during the year
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What are some current issues
: What are some mechanisms that firms can put in place to improve governance? What are some current issues being debated in the arena of corporate governance
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What are the amounts each partner would report
: If Allan and Joe share capital, income and losses (80% to Allan and 20% to Joe), what are the amounts each partner would report
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What is the net impact on the profit or loss
: If the company uses the cost model, what is the net impact on the profit or loss for the 6 months ended December 31, 2021, in relation to investment property
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What amount should be included as loss on disposal
: In Yellow Corp.'s statement of comprehensive income for the year ended 30 June 2021, what amount should be included as loss on disposal
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What is the rule in labor law
: In a factory where one hundred ten workers are working with almost risky operating procedure, at times even being conscious, some workers get hurt & injured
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Phase in the case management process
: Outline each phase in the case management process.
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What does training and development mean
: What does training and development mean? How does this course benefit YOU?
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What the correct cash account balance for the balance sheet
: Currencies and coins awaiting deposit- P52,000; Deposit in bank closed by Central Bank- P60,000. What the correct cash account balance for the balance sheet
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