43 They Company owns land and building classified as investment property. The land and buildingis being leased out under operating leases. The company uses cost model for its otherinvestment property. Data relating to the land and building follows:CostLandP 10,000,000 -FV Dec. 31, 2020 FV Dec. 31, 2021 FV Dec. 31, 2021P14,000,0009,000,000------P15,500,000 ----‒‒‒‒‒‒P 17,000,000Building - 20,000,000 ---9,500,000-----10,000,000How much fair value gain should They company report in profit or loss for year 2021?

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They Company owns land and building classified as investment property. The land and building is being leased out under operating leases. The company uses cost model for its other investment property. Data relating to the land and building follows: Cost FV Dec. 31, 2020 FV Dec. 31, 2021 -------P15,500,000 Land P 10,000,000 - P14,000,000 FV Dec. 31, 2021 P 17,000,000 10,000,000 Building - 20,000,000 9,000,000 9,500,000 How much fair value gain should They company report in profit or loss for year 2021?

They Company owns land and building classified as investment property. The land and building is being leased out under operating leases. The company uses cost model for its other investment property. Data relating to the land and building follows: Cost FV Dec. 31, 2020 FV Dec. 31, 2021 -------P15,500,000 Land P 10,000,000 - P14,000,000 FV Dec. 31, 2021 P 17,000,000 10,000,000 Building - 20,000,000 9,000,000 9,500,000 How much fair value gain should They company report in profit or loss for year 2021?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter11: Long-term Assets

Section: Chapter Questions

Problem 3PA: During the current year, Alanna Co. had the following transactions pertaining to its new office...

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They Company owns land and building classified as investment property . The land and building is being leased out under operating leases. The company uses cost model for its other investment property. Data relating to the land and building follows: Cost FV Dec. 31, 2020 FV Dec. 31, 2021 FV Dec. 31, 2021Land -------- P 10,000,000 -- P14,000,000 -------P15,500,000 ------- P 17,000,000Building ----- 20,000,000 --- 9,000,000 -------- 9,500,000 ------- 10,000,000 How much fair value gain should They company report in profit or loss for year 2021?note: uses cost model
They Company owns land and building classified as investment property . The land and building is being leased out under operating leases. The company uses cost model for its other investment property. Data relating to the land and building follows: Cost FV Dec. 31, 2020 FV Dec. 31, 2021 FV Dec. 31, 2021Land -------- P 10,000,000 -- P14,000,000 -------P15,500,000 ------- P 17,000,000Building ----- 20,000,000 --- 9,000,000 -------- 9,500,000 ------- 10,000,000 How much fair value gain should They company report in profit or loss for year 2021?
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1.)They Company owns land and building classified as investment property . The land and building is being leased out under operating leases. The company uses cost model for its other investment property. Data relating to the land and building follows:    Cost FV Dec. 31, 2020 FV Dec. 31, 2021 FV Dec. 31, 2021Land -------- P 10,000,000 -- P14,000,000 -------P15,500,000 ------- P 17,000,000Building ----- 20,000,000 --- 9,000,000 -------- 9,500,000  ------- 10,000,000 How much fair value gain should They company report in profit or loss for year 2021? 2.)He Company owns land and building classified as investment property . The land and building is being leased out under operating leases. The company uses the fair value model for all its other investment property. Data relating to the land and building follows: Cost FV Dec. 31, 2020…
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