Reference no: EM133180979
Question - Bergs Company and its subsidiaries own the following properties:
Land held for undetermined use - P1,500,000
Land held for long-term capital appreciation - P2,800,000
Land held by a subsidiary for short-term sale in the ordinary course of business - P5,000,000
A vacant building owned by the company and to be leased out under an operating lease - P2,000,000
Building used in production - P4,500,000
Building owned by subsidiary and leased out to third parties under an operating lease - P3,200,000
Land leased by Bergs Company to subsidiary under an operating lease - P2,500,000
Building under construction for future use an investment property - P3,600,000
Based on the provisions of IAS 40, what amount should be reported as Investment Property in the separate financial statements of Bergs Company?
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