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What amount should be reported as loss from discontinued

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Reference no: EM132817748

Problem 1: ABC Company committed to sell the comic book division, a component of the business, on September 1, 2018. The carrying amount of the division was P4,000,000 and the fair value was P3,500,000. The disposal date is expected on June 1, 2019. The division reported an operating loss of P200,000 for the year ended December 31, 2018. Ignoring income tax, what amount should be reported as loss from discontinued operation in 2018?

a. 500,000

b. 200,000

c. 700,000

d. 0

Reference no: EM132817748

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