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What is the loss reported in the income statement

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Reference no: EM132759633

Jungkook Company has a single investment property that had an original cost of P3,900,500 on January 1, 2019.

  • On December 31, 2019, the fair value was P4,585,700 and on December 31, 2020, the fair value was P4,600,900. On acquisition, the property had a useful life of 10 years.

Problem 1: What is the loss reported in the income statement for 2020 under the fair value model?

Reference no: EM132759633

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