What amount should holt report as investment property

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Reference no: EM132918188

Question

HOLT INC. Completed the construction of a hotel with a swimming pool at a cost of 105,000,000 at January 1, 2021. The estimated useful life of the hotel is 30 years and HOLT uses the cost model in accounting for its fixed assets.

A. Assume that HOLT INC. provides security services for its guest belongings as part of the service it provides, what amount should HOLT report as investment property in its statement of financial position as of December 31, 2022?

B. Assume that HOLT INC. Is an owner-managed hotel, what amount should HOLT report as investment property in its statement of financial position as of December 21, 2025?

Reference no: EM132918188

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