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What is the increase in shareholders equity

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Question - On December 30, 2020, Corona Company paid P2,000,000 for land. On December 31, 2021, the current cost of the land was P2,200,000. In January 2022, the land was sold for P2,250,000.

Required -

1. Under current cost accounting, what is the increase in shareholders' equity in 2021?

2. Under current cost accounting, what is the increase in shareholders' equity in 2022?

Reference no: EM133183709

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