MC12 Mega Company and its subsidiaries have a provided you with a list of property items they own: Land held by Mega for undetermined future P10 million use A vacant building owned by Mega and to be leased out under an operating lease Property held by a subsidiary of Mega, a real estate firm, in the ordinary course of business Property held by Mega for use in production A hotel owned by Mega's subsidiary; the subsidiary also provides security services to its guests A building owned by Mega being leased out to Vega, one of Mega's subsidiaries, under operating leases 20 million 50 million 12 million 60 million 25 million What amount shall be shown as Investment Property in the consolidated statement of financial position of Mega and its subsidiaries? P20 million P30 million P85 million P90 million a. b. C. d.

MC12 Mega Company and its subsidiaries have a provided you with a list of property items they own: Land held by Mega for undetermined future P10 million use A vacant building owned by Mega and to be leased out under an operating lease Property held by a subsidiary of Mega, a real estate firm, in the ordinary course of business Property held by Mega for use in production A hotel owned by Mega's subsidiary; the subsidiary also provides security services to its guests A building owned by Mega being leased out to Vega, one of Mega's subsidiaries, under operating leases 20 million 50 million 12 million 60 million 25 million What amount shall be shown as Investment Property in the consolidated statement of financial position of Mega and its subsidiaries? P20 million P30 million P85 million P90 million a. b. C. d.

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter1: Understanding And Working With The Federal Tax Law

Section: Chapter Questions

Problem 40P

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