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What is the gain or loss to be presented

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Question - On January 1, 2020, Genos Company owned an investment property which had an original cost of P8,888,000 and useful life of 25 years. On December 31, 2022, the fair value was P 8,112,000 and on December 31, 2023, the fair value was P 7,620. Under the fair value model, what is the gain or loss to be presented in the income statement for the year ended December 31, 2023?

Reference no: EM133072922

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