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, 2021 Land -------- P 10,000,000 -- P14,000,000 -------P15,500,000 ------- P 17,000,000 Building ----- 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?
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, 2021
Land -------- P 10,000,000 -- P14,000,000 -------P15,500,000 ------- P 17,000,000
Building ----- 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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is this still applicable if the company uses cost model?
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