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What is the gain or loss on settlement of property

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Question - On October 1, 2022, Greece Company declared a property dividend of machinery payable on April 1, 2023. The carrying amount of the machinery is P4,000,000 on October 1, 2022.

The machinery had the following fair values:

01-Oct-22 P3,800,000

31-Dec-22 3,700,000

01-Apr-23 3,500,000

Required - What is the gain or loss on settlement of property dividend on April 1, 2021?

Reference no: EM133109676

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