Alain company prepared draft financial statements that showe income before tax for the year ended December 31, 2021 at Pe The board of directors authorized the financial statements for March 20,2022. A manufacturing plant was destroyed by fire o 15, 2022 resulting in a financial loss of P2,500,000. Insurance property amounted to P4,000,000 and the claim was receive February 14, 2022. Repairs will start on April 2022. What amour reported as profit before tax in the financial statements? O 2500000 O 9000000

Alain company prepared draft financial statements that showe income before tax for the year ended December 31, 2021 at Pe The board of directors authorized the financial statements for March 20,2022. A manufacturing plant was destroyed by fire o 15, 2022 resulting in a financial loss of P2,500,000. Insurance property amounted to P4,000,000 and the claim was receive February 14, 2022. Repairs will start on April 2022. What amour reported as profit before tax in the financial statements? O 2500000 O 9000000

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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