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What is the amount of investment property

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Q1. On January 1, 20x1, ABC Co. decided to lease out a building that was previously used as office space. The building has a historical cost of P 5,000,000 and accumulated depreciation of P 4,000,000. 1. ABC Co. uses the cost model for both of its investment property and PPE. The building has a fair value of P 1,400,000 on January 1, 20x1. The journal entries revealed a credit to Building at _________on January 1, 20x1.

Q2. On January 1, 20x1, ABC Co. decided to lease out a building that was previously used as office space. The building has a historical cost of P 5,000,000 and accumulated depreciation of P 4,000,000.

ABC Co. uses the fair value model for its investment property. The building has a fair value of P 800,000 on January 1, 20x1.

What is the amount of investment property that shall be presented in the statement of financial position on January 1, 20x1?

Reference no: EM132988074

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