Solution-What total amount should be reported as adjusting

What total amount should be reported as adjusting events

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3/15/2014 One of the entity's factories with a carrying amount of P4,000,000 was completed razed by forest fire that erupted in its vicinity.

Question 1: The management completed the draft of the financial statements for 2013 on February 10, 2014. On March 20, 2014, the board of directors authorized the financial statements for issue. The entity announced its profit and other selected information on March 22, 2014. The financial statements were approved by shareholders on April 2, 2014 and filed with the SEC the very next day. What total amount should be reported as adjusting events on December 31, 2013?

9,500,000
8.500,000
9,000,000
4,500,000

Reference no: EM132479452

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What total amount should be reported as adjusting events

Reference no: EM132479452

Reference no: EM132479452

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