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Abba Company accounted for noncurrent assets using the revaluation model. On June 30, 2021, the entity classified a At that date, the carrying amount was P2,900,000 and the On June 30, 2021, the fair value was estimated at P3,300,000 On December 31, 2021, the fair value was estimated at land as held for sale. balance of the revaluation surplus was P200,000. and the cost of disposal at P200,000. P3,250,000 and the cost of disposal at P250,000. 1. What is the adjusted carrying amount of the land on June 30, 2021? a. 3,100,000 b. 3,300,000 c. 2,900,000 d. 2,700,000 2. What is the adjusted carrying amount of the land on December 31, 2021? a. 3,100,000 b. 3,300,000 c. 3,000,000 d. 3,250,000 11 7 3. What total amount ohould be renorted eei Page - Q + for 20212

Abba Company accounted for noncurrent assets using the revaluation model. On June 30, 2021, the entity classified a At that date, the carrying amount was P2,900,000 and the On June 30, 2021, the fair value was estimated at P3,300,000 On December 31, 2021, the fair value was estimated at land as held for sale. balance of the revaluation surplus was P200,000. and the cost of disposal at P200,000. P3,250,000 and the cost of disposal at P250,000. 1. What is the adjusted carrying amount of the land on June 30, 2021? a. 3,100,000 b. 3,300,000 c. 2,900,000 d. 2,700,000 2. What is the adjusted carrying amount of the land on December 31, 2021? a. 3,100,000 b. 3,300,000 c. 3,000,000 d. 3,250,000 11 7 3. What total amount ohould be renorted eei Page - Q + for 20212

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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"a picture On June 30, 2021, the fair value was estimated at P3,300,000 On December 31, 2021, the fair value was estimated at 1. What is the adjusted carrying amount of the land on June A Preliminary Assessment: Non cur X revaluation model. On June 30, 2021, the entity classified a At that date, the carrying amount was P2,900,000 and the C video x © Untitled design - Video x M Inbox (1,920) - 2213663@slu.edu x + A classroom.google.com/u/0/c/NDU3MTE4MZUWMDI1/a/NDgyMzE5NjA0OTM2/details Q POr NCASDO Activity.pdf Open with - O Prelimin Assigned for sale Problem 6-3 (IFRS) Add or create Candido Perez- 50 points ark as done land as held for sale. Using the 2021 Edition of Abba Companу, Clara Company, Young Company, balance of the revaluation surplus was P200,000. omments t to Candido Perez and the cost of disposal at P200,000. Write in your handwriting usin paper. Use black solution in good On December 31, 2021, the fair value was estimated P3,250,000 and the cost of disposal at P250,000. amounts should Submit a picture 1. What is the adjusted carrying amount of the land on June 30, 2021? captured. (not up a. 3,100,000 b. 3,300,000 c. 2,900,000 d. 2,700,000 arranged. Remer own and this i 2. What is the adjusted carrying amount of the land on December 31, 2021? 2 Class com a. 3,100,000 b. 3,300,000 c. 3,000,000 d. 3,250,000 Add a class com Q + Page 1 I 7 3. What total amount chould be renorted for 2021 5:45 am O Type here to search 24°C O () 6 ENG 17/03/2022
Transcribed Image Text:"a picture On June 30, 2021, the fair value was estimated at P3,300,000 On December 31, 2021, the fair value was estimated at 1. What is the adjusted carrying amount of the land on June A Preliminary Assessment: Non cur X revaluation model. On June 30, 2021, the entity classified a At that date, the carrying amount was P2,900,000 and the C video x © Untitled design - Video x M Inbox (1,920) - 2213663@slu.edu x + A classroom.google.com/u/0/c/NDU3MTE4MZUWMDI1/a/NDgyMzE5NjA0OTM2/details Q POr NCASDO Activity.pdf Open with - O Prelimin Assigned for sale Problem 6-3 (IFRS) Add or create Candido Perez- 50 points ark as done land as held for sale. Using the 2021 Edition of Abba Companу, Clara Company, Young Company, balance of the revaluation surplus was P200,000. omments t to Candido Perez and the cost of disposal at P200,000. Write in your handwriting usin paper. Use black solution in good On December 31, 2021, the fair value was estimated P3,250,000 and the cost of disposal at P250,000. amounts should Submit a picture 1. What is the adjusted carrying amount of the land on June 30, 2021? captured. (not up a. 3,100,000 b. 3,300,000 c. 2,900,000 d. 2,700,000 arranged. Remer own and this i 2. What is the adjusted carrying amount of the land on December 31, 2021? 2 Class com a. 3,100,000 b. 3,300,000 c. 3,000,000 d. 3,250,000 Add a class com Q + Page 1 I 7 3. What total amount chould be renorted for 2021 5:45 am O Type here to search 24°C O () 6 ENG 17/03/2022
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