How much should be reported as Land under PPE section of the financial position?

SWFT Comprehensive Volume 2019
42nd Edition
ISBN:9780357233306
Author:Maloney
Publisher:Maloney
Chapter14: Property Transactions: Capital Gains And Losses, § 1231, And Recapture Provisions
Section: Chapter Questions
Problem 75P
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In preparing the 2015 draft financial statement of BFF Company, 

 the Land account of P2,500,000 under PPE included the following items:

 

• P300,000 held for long term capital appreciation

 • P450,000 held for sale in the ordinary course of business

• P175,000 grazing ground for cattles

• P240,000 held for currently undetermined future use

• P200,000 in which the management has made for immediate sale

 

How much should be reported as Land under PPE section of the financial position?

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