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What amount should be reported as total shareholder equity

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Question - PinoyAKO Company provided the following information on December 31, 2021:   Cash >P2,000,000; Receivables >P2,600,000; Property Plant and Equipment >P4,600,000; Trade Payables >P1,800,000; Share Capital >P4,000,000; Revaluation Surplus >P400,000 ; Retained Earnings >P3,000,000.  The general price index numbers are 112 on January 1, 2017 which is the date of incorporation, 125 on December 31, 2019 and 280 on December 31, 2021. The property were acquired in January 2017 but were revalued in December 31, 2019. What amount should be reported as total shareholder's equity in a hyperinflationary statement of financial position?

Reference no: EM133179270

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